Damon Testaverde: Network 1 Advisor Faces SEC Probe

Red Bank, New Jersey financial advisor Damon Testaverde (CRD# 444453) is under investigation by the Securities and Exchange Commission. Financial Industry Regulatory Authority records show that he is registered as a broker with Network 1 Financial Securities.

Mr. Testaverde’s BrokerCheck report discloses the SEC’s investigation into his conduct. Filed in September 2026, it states that the regulator is investigating “Alleged violations of securities laws.” The probe is still pending.

A second disclosure on his BrokerCheck report concerns a previous regulatory enforcement action against Mr. Testaverde. Filed in 2007, the disclosure states that the National Association of Securities Dealers sanctioned him in connection with allegations that he solicited a firm customer, a company’s controlling shareholder, to sell shares of common stock “in amounts that exceeded the limits that a controlling shareholder could sell in public transactions.” As a result of the NASD’s findings, Mr. Testaverde was suspended and ordered to pay a fine of $50,000.

According to the Financial Industry Regulatory Authority, Damon Testaverde holds 53 years of securities industry experience. Based in Red Bank, New Jersey, he has been registered as a broker with Network 1 Financial Securities since 1994. His past registrations include FN Wolf, RH Damon, Philips Appel & Walden, SD Cohn, Unified Securities, DH Blair Investors, O’Neill & Feldman, and Inverness Distributors. His credentials include the passage of nine securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Operations Professional Examination, or Series 99TO; the Investment Banking Registered Representative Examination, or Series 79TO; the Municipal Securities Representative Examination, or Series 52TO; the Registered Principal Examination, or Series 40; the General Securities Representative Examination, or Series 7TO; the F04, or Financial Principal Examination; the Registered Representative Examination, or Series 1; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 33 state licenses. (Information current as of September 26, 2026.)

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