Todd Lesk Permitted to Resign Following FINRA Investigation
Todd Lesk (CRD #: 2788300) has been barred by FINRA following his resignation from Cambridge Investment Research. These disclosures appear on his BrokerCheck record, accessed on November 13, 2023. Keep reading if you have questions about his alleged conduct.
On October 6, 2023, FINRA barred Todd Lesk following allegations that he refused to provide information and refused to provide on-the-record testimony requested by FINRA in connection to its investigation into whether he recommended that his customer invest in a crypto asset offering outside of Todd Lesk’s member firm.
You can read a copy of the bar here.
FINRA Rule 3270 – Outside Business and Selling Away
FINRA Rule 3270 requires brokers to inform their firm of any outside business activities or any investments sold away from the firm. The brokerage firm may prohibit the activity if the firm believes the proposed activity may compromise the broker’s duties. Firms may also require brokers to seek approval for any outside business, including crypto asset offerings.
FINRA Rule 8210
FINRA Rule 8210 requires members to provide documents, information, and testimony upon request by FINRA.
On October 4, 2023, Todd Lesk was permitted to resign from Cambridge Investment Research following the allegations that he was unwilling to cooperate with the regulator’s and the firm’s requests for information.
Million-Dollar Investor Dispute
On September 19, 2023, an investor alleged that Todd Lesk recommended unsuitable investments. The investor is seeking $1,000,000.
FINRA Rule 2111 – Unsuitable Investments
FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable. This rule also prohibits overconcentration, as placing too much of a portfolio in a single sector exposes the investor to unnecessary risk.
Todd Lesk has passed the following exams:
- Series 65 Uniform Investment Adviser Law Examination
- Series 63 Uniform Securities Agent State Law Examination
- Series 99TO Operations Professional Examination
- SIE – Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
- Series 24 General Securities Principal Examination
During his 25 years of experience, he has registered with 12 firms:
- Cambridge Investment Research (CRD #: 39543)
- LPL Financial (CRD #: 6413)
- Invest Financial Corporation (CRD #: 12984)
- Middlebury Securities (CRD #: 122602)
- Sterne Agee Financial Services (CRD #: 18456)
- Atlantic Coast Securities Corporation (CRD #: 20826)
- Livingston Monroe Capital Group (CRD #: 31228)
- G.T. Jeffers & Company LLC (CRD #: 453058
- J.P. Turner & Company (CRD #: 43177)
- First Union Securities Financial Network (CRD #: 11025)
Kurta Law Can Help
If you worked with Todd Lesk and have concerns about your investments, please contact us today at 877-600-0098 or firstname.lastname@example.org 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.