Justin Chretien Quoted in Law360: “SEC Lifts FINRA Ban for Attorney Accused of Cheating on Exam”
Justin Chretien was quoted in a Law360 article titled “SEC Lifts FINRA Ban for Attorney Accused of Cheating on Exam.” The article discusses the case of Thomas Lykos, a former SEC enforcement attorney who was deemed by FINRA to have cheated on a securities exam and was subsequently barred from the securities industry in 2020. On July 18, 2025, the SEC lifted the ban, finding there was no conclusive evidence of his cheating.
Chretien, who represented Lykos in the case, stated the takeaway from the SEC’s decision is that FINRA overcharged the case. “The FINRA Panel barred Mr. Lykos for those violations but found no direct evidence of cheating. An appeal to the SEC followed and it took three years for the review. In the end, the SEC set aside the permanent bar, finding insufficient evidence of cheating. We are grateful for that. Fortunately, Mr. Lykos is vindicated – he did not cheat on the Series 24 exam. He is looking forward to re-entry into the industry.”
Natalie Napierala served as Chretien’s co-counsel
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