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Richard Testa is the Subject of a Six-Figure Dispute

Richard Testa (CRD #: 3152207), a broker registered with Cambridge Investment Research, Inc., is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on September 6, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On June 6, 2024, an investor alleged that Richard Testa recommended a high-pressure sale and misrepresented information. The investor sought $604,000 but the dispute was denied by the firm. Investors should know, however, that firms can deny disputes without any external review. 

This is the second investor dispute on his record. 

Misrepresentation 

FINRA Rule 2020 prohibits the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

Background Information 

Richard Testa has passed the following exams: 

  • Series 65 Uniform Investment Adviser Law Examination 
  • Series 66 Uniform Combined State Law Examination
  • Series 99TO Operations Professional Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination 

He is a registered broker in five states and is a registered investment adviser in Massachusetts. 

During his 25 years of experience, Richard Testa has registered with seven firms: 

  • Cambridge Investment Research (CRD #: 39543) 
  • Cambridge Investment Research Advisors (CRD #: 134139) 
  • Prospera Financial Services (CRD #: 10740) 
  • Jesup & Lamont Securities Corp. (CRD #: 39056) 
  • Empire Financial Group (CRD #: 28759) 
  • Coburn & Meredith (CRD #: 164) 
  • Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691) 

Kurta Law Can Help 

If you worked with Richard Testa and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com 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 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. Do not let securities fraud go unchecked. Start your recovery process today.

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