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Fernando Costa Involved in Investor Dispute Alleging Misrepresentation

Feb 28, 2022 Investor Disputes

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. 

Background Information

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).

Kurta Law Can Help

If you have worked with Fernando Costa and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or for a free consultation.

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Please reach out if you have any questions about what steps to take next to recover your investment losses.