Fernando Costa Involved in Investor Dispute Alleging Misrepresentation
Fernando Costa (CRD #:5179486), a broker and investment advisor registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, is involved in an investor dispute, according to his BrokerCheck record accessed on February 16, 2022.
On December 7, 2021, Fernando Costa was named in an investor dispute alleging misrepresentations from July 2021 until December 2021. The investor is seeking $130,000一the case is still pending.
BrokerCheck does not provide details regarding the nature of the misrepresentation, however, misrepresentations and omissions deprive investors of the information they need to assess risks associated with a particular investment. FINRA Rule 2020 prohibits brokerage firms and stockbrokers from making material misrepresentations or inducing people into buying investments with false statements about their potential benefits. This unethical conduct also violates FINRA Rule 2010, which states that brokers must uphold high standards of commercial honor.
Fernando Costa has passed the following exams:
- Series 65 - Uniform Investment Adviser Law Examination
- Series 63 - Uniform Securities Agent State Law Examination
- SIE - Securities Industry Essentials Examination
- Series 7 - General Securities Representative Examination
He is a registered broker in eight states. He is also a registered investment advisor in four states.
Besides Merrill Lynch, Pierce, Fenner & Smith Incorporated, Fernando Costa has also worked with J.P. Morgan Securities (CRD#:79).
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