The National Adjudicatory Council (NAC), has developed the FINRA Sanction Guidelines for use by the various bodies adjudicating disciplinary decisions, including Hearing Panels in FINRA’s Office of Hearing Officers and the NAC itself (collectively, the Adjudicators), in determining appropriate remedial sanctions. FINRA publishes these Sanction Guidelines so that members, associated persons and their counsel understand the types of disciplinary sanctions that may be applicable to various violations. FINRA staff and respondents also may use these guidelines in crafting settlements.

Download the 2024 Sanction Guidelines