There may be a perfunctory hearing involved, I dunno; the point is the SEC must have a new reason for any subsequent suspension(s)--it comes from this case:
...involving a colorful character named Sam Sloan.
FINRA resulted from the merger of NASD and a subsidiary of NYSE. NASDAQ remains as the market side of the former NASD, which is still linked to FINRA. For instance, an OTCBB/pink company that issues a divvy sends the info to the Office of Corporate Data Operations within NASDAQ, who then sends the notifications to FINRA to be published on the Daily List.