Richard Ciraco Allegedly Made Unsuitable Recommendations

Richard Ciraco (CRD #: 825969), a broker registered with J.P. Morgan Securities, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on September 6, 2025. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On June 26, 2025, an investor alleged that Richard Ciraco made an unsuitable recommendation regarding 529 and margin accounts. The investor is seeking $450,000. 

There are two other settled investor disputes on his record. 

Unsuitable Investment Recommendations 

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals.

Some common violations of this rule include:

• Recommendations of unsuitable investment strategies. For instance, overconcentration of securities in a certain stock or sector is typically unsuitable due to the degree of risk.
• Recommendations of high-risk or illiquid investments. These investments may lead to high fees for the investor. Margin accounts are high risk. 

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

Background Information 

Richard Ciraco has passed the following exams: 

• Series 66 Uniform Combined State 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 32 states, D.C., and Puerto Rico. He is a registered investment adviser in New York and Texas. 

Richard Ciraco has registered with the following firms: 

• JP Morgan Securities (CRD #: 79) 
• Prudential-Bache Securities (CRD #: 7471) 
• Bache Halsey Stuart (CRD #: 7238) 

Kurta Law Can Help

If you worked with Richard Ciraco and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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.