17 CFR 38.708 - Decisions.
Promptly following a hearing conducted in accordance with § 38.707 of this part, the disciplinary panel must render a written decision based upon the weight of the evidence contained in the record of the proceeding and must provide a copy to the respondent. The decision must include:
(a) The notice of charges or a summary of the charges;
(b) The answer, if any, or a summary of the answer;
(c) A summary of the evidence produced at the hearing or, where appropriate, incorporation by reference of the investigation report;
(d) A statement of findings and conclusions with respect to each charge, and a complete explanation of the evidentiary and other basis for such findings and conclusions with respect to each charge;
(e) An indication of each specific rule that the respondent was found to have violated; and
(f) A declaration of all sanctions imposed against the respondent, including the basis for such sanctions and the effective date of such sanctions.