Investment Loss Options for Clients of Aegis Capital Corp. Broker Anthony Tricarico
Posted on Monday, July 12th, 2021 at 6:26 pm
Erez Law is currently investigating former Aegis Capital Corp. broker Anthony Tricarico (CRD# 1047416) regarding unsuitable investment recommendations. Tricarico has been registered with Aegis Capital Corp. in New York, New York from 2010 to 2020.
In February 2021, FINRA suspended Tricarico for six months and sanctioned him to pay a $5,000 civil and administrative penalty and fine after he “consented to the sanctions and to the entry of findings that he engaged in excessive and quantitatively unsuitable trading in the accounts of his member firm’s customers. The findings stated that Tricarico’s trading in the accounts of his firm customers generated high cost-to-equity ratios and turnover rates as well as significant losses and commissions. Because Tricarico recommended the trading in the customers’ accounts and they routinely followed his recommendations, Tricarico exercised de facto control over the customers’ accounts. Collectively, the customers paid $44,733 in commissions and trading costs, and incurred losses of $39,848.”
Tricarico has been the subject of three customer complaints between 1990 and 2021, according to his CRD report. Recent complaints are regarding:
February 2021. “Time frame: unspecified. Claimants allege unsuitable investments.” The case is currently pending.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Aegis Capital Corp. may be liable for investment or other losses suffered by Tricarico’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.