FINRA Suspends Nickolay Kukekov For Alleged Undisclosed OBAs
Nickolay Kukekov (CRD #: 4981423), a broker formerly registered with Paulson Investment Company, was recently suspended by FINRA, according to his BrokerCheck record, accessed on November 6, 2022. Read on to learn more about his conduct as a broker.
On September 28, 2022, Nickolay Kukekov consented to the entry of findings that he allegedly failed to give prior written notice to his firm, Paulson Investment Company, before engaging in outside business activities.
A Letter of Acceptance, Waiver & Consent (AWC) alleged that Nickolay Kukekov began serving as a director of Company A. He allegedly failed to provide prior written notice to his firm and only requested approval in April 2021, after his firm discovered his activities.
Further, the AWC alleged that Nickolay Kukekov engaged in another outside business activity with Company B, a company developing treatments for a degenerative brain disease. In April 2021, he allegedly informed prospective investoFirs of Company B that he had accepted a transitional role as the company’s chief executive officer, a position that was later formalized.
Nickolay Kukekov allegedly failed to provide his firm with prior written notice of his role at Company B. Paulson Investment Company allegedly discovered his participation in these activities in late April 2021 and fired him.
The AWC concluded that Nickolay Kukekov allegedly violated FINRA Rules 3270 and 2010.
FINRA Rules 3270 and 2010
FINRA Rule 3270 requires that brokers seek approval from their firm before engaging in outside business activities.
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.
Nickolay Kukekov consented to the following sanctions:
- $5,000 fine
- 30-day suspension
His suspension began on October 3, 2022, and ended on November 1, 2022.
You can read a copy of the AWC here.
Other business activities
Nickolay Kukekov’s detailed BrokerCheck report lists the following outside business activities:
- Manager of Lifestyle Healthcare LLC.
- Founder and board member of Drywave Technology, Inc.
- Board member of Brain Scientific, a neurology products company.
- Board member of Omnia Wellness, a medical equipment company.
- Member of RZI Consulting, LLC.
- Board member of Biorestorative Therapies, a medical research company.
Termination from Paulson Investment Company
On April 20, 2021, Nickolay Kukekov was fired from Paulson Investment Company after allegedly failing to disclose an outside business activity and using his personal email for securities-related business.
Nickolay Kukekov has passed the following exams:
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
He previously worked for the following firms:
- Paulson Investment Company (CRD#:5670)
- Corinthian Partners (CRD#:38912)
- Merriman Capital (CRD#:18296)
- Agincourt, Limited (CRD#:36661)
- Corinthian Partners (CRD#:38912)
- John Thomas Financial (CRD#:40982)
- Summer Street Research Partners (CRD#:127142)
- Gilford Securities (CRD#:8076)
- Paramount BioCapital (CRD#:29795)
- Rodman & Renshaw (CRD#:16415)
Kurta Law Can Help
If you worked with Nickolay Kukekov and you have concerns about your investments, please contact us today at 877-600-0098 or firstname.lastname@example.org for a free consultation.
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