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Alexander Lycouris: FINRA Suspends Ex-MML Broker
Former Fort Lauderdale broker Alexander Lycouris (CRD# 6422905), was recently the subject of a Financial Industry Regulatory Authority sanction in connection to allegations he was involved in an outside business activity which he did not disclose to his member firm. Formerly registered with MML’s branch office in Fort Lauderdale, Florida, Lycouris was issued a seven-month suspension.
According to a Letter of Acceptance, Waiver, and Consent (No. 2018059948701) dated November 2019, Alexander Lycouris was associated with MML Investors Services as a general securities representative from April 2015 until he was permitted to resign in August 31 in connection to allegations, described by the firm in a notice disclosing his departure, involving an undisclosed outside business activity. According to FINRA’s findings, Lycouris started working with a company called Standpoint Research in December 2017. That company, according to FINRA, offered “subscription-based stock and cryptocurrency research and recommendations,” and hired Lycouris for the purposes of creating “an automated system that would direct emails to [the company’s] existing subscribers nearing expiration,” and to the company’s founder’s LinkedIn followers. FINRA states that Lycouris was paid a salary by Standpoint Research for about nine months, and additionally received bonuses.
In August 2018, according to FINRA, MML learned of his employment with Standpoint Research during its “routine monitoring of representatives’ social media.” FINRA states that he had “never provided notice” to the firm before participating in the outside business activity, in spite of FINRA Rule 3270, which requires stuff. FINRA goes on to state that when FINRA sent Lycouris letters requesting that he produce documents and information regarding his outside business activity, he did not provide full and complete responses in a timely manner. As a result of the foregoing alleged conduct, Lycouris was issued a seven month suspension from associating with any FINRA member firm in any capacity.
Alexander Lycouris is currently not registered with any FINRA member firm. His previous registrations include MML Investors Services and MSI Financial Services, both in Fort Lauderdale, Florida. He has passed three securities industry qualifying examinations and his BrokerCheck report currently lists no state securities licenses. (Information current as of May 6, 2020.)