Nicos Achillea Stephanou (CRD # 4397375, Registered Representative, Nicosia, Cyprus) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Stephanou consented to the described sanction and to the entry of findings that he willfully and knowingly, directly or indirectly, by use of the means and instrumentalities of interstate commerce, and of the mails, and of the facilities of national securities exchanges, in connection with the purchase and sale of securities, used and employed manipulative and deceptive devices and contrivances by employing devices, schemes and artifices to defraud; making untrue statements of material facts and omitting to state material facts necessary to make the statements made, in the light of the circumstances under which they were made, not misleading; and engaging in acts, practices and courses of business which operated and would operate as a fraud or deceit upon persons. The findings stated that Stephanou engaged in inside trading by purchasing shares of a company’s common stock based on material nonpublic information. (FINRA Case # 2009017510801)

We take cases on a purely contingency fee basis against brokerage firms who employ brokers committing misconduct of this nature. Please contact us for a free evaluation.