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Todd Lesk Barred after Selling Away Allegations 

Todd Lesk Barred after Selling Away Allegations featured by top securities fraud attorneys, the White Law Group

FINRA Bars Cambridge Broker Todd Lesk after Crypto Asset Offering Sales 

According to public documents, the Financial Industry Regulatory Authority (FINRA) has reportedly barred former broker Todd Lesk (CRD#: 2788300) from the securities industry. FINRA is the self-regulator who oversees brokers and brokerage firms.  

Lesk reportedly refused to provide information and documents and to appear for on-the-record testimony. FINRA was reportedly investigating whether Lesk recommended that his customer invest in a crypto asset offering away from Lesk’s member firm. Lesk was reportedly registered with Cambridge Investment Research in Coral Springs, Florida until he was permitted to resign on October 5, 2023. 

Selling Away 

When a FINRA registered representative conducts business outside the scope of the brokerage firm where they are registered, the act can be considered “selling away.” Some brokers, looking to supplement their income, will go outside the traditional market, trying to find other products to push.   

If a registered broker “sells away” from their firm, the brokerage firm may still be liable for negligent supervision of their broker representative and may be responsible for investment losses in a FINRA dispute resolution claim.   

Todd Lesk – FINRA BrokerCheck Profile   

According to Lesk’s FINRA Brokercheck report, he has 2 customer complaints filed against him. Allegations include recommending unsuitable investments and churning, among other things. 

The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA.   

BrokerCheck provides investors with detailed information about the professional history, qualifications, and regulatory actions of brokers and brokerage firms. Investors can use the tool to verify whether a broker or brokerage firm is registered with FINRA, as well as to review their employment history, licensing status, and any regulatory actions or complaints filed against them.   

According to his FINRA BrokerCheck report, Lesk was reportedly affiliated with the following firms during his career in the securities industry, among others: 

09/01/2022 – 10/05/2023, CAMBRIDGE INVESTMENT RESEARCH, INC. (CRD#:39543), Coral Springs, FL,
02/14/2018 – 09/08/2022, LPL FINANCIAL LLC (CRD#:6413), CORAL SPRINGS, FL
08/18/2011 – 09/27/2016, MIDDLEBURY SECURITIES LLC (CRD#:122602), BOCA RATON, FL
08/20/2010 – 08/10/2011, STERNE AGEE FINANCIAL SERVICES, INC. (CRD#:18456), BOCA RATON, FL

Broker Due Diligence   

Brokers and brokerage firms owe a duty of care and loyalty to their customers. The broker must use the standard of care and diligence needed to protect the customer’s interest. Failure to fulfill that duty may constitute negligence or malpractice by a broker. The duty of loyalty requires that the broker refrain from self-dealing and place the interests of the customer first.    

FINRA Dispute Resolution is an arbitration venue for investors with claims against their brokerage firm or financial professional.  It provides investors with an opportunity to attempt to recoup their investment losses and is an alternative to filing such claims in court.     

If you have suffered losses investing with broker Todd Lesk, the securities attorneys at the White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm dedicated to helping investors in claims in all 50 states against their financial professional or brokerage firm. Since the firm launched in 2010, it has handled over 700 FINRA arbitration cases.      

Our firm represents investors in all types of securities related claims, including claims involving stock fraud, broker misrepresentation, churning, unsuitable investments, selling away, and unauthorized trading, among many others.       

With over 30 years of securities law experience, The White Law Group has the expertise to help investors to recover their fraud losses.    For more information, please visit our website, www.whitesecuritieslaw.com.       

Todd Lesk, Cambridge Investment Research, broker investigation, 




Tags: , , Last modified: October 17, 2023