Anthony Sica In Joseph Gunnar Client’s Suitability Dispute

Joseph Gunnar Securities Broker Anthony Sica Involved In Investor Suitability Disputes

Soreide Law Group brings you this update in regard to securities broker Anthony Sica (CRD#: 1332626, New York, New York). Notably, this securities broker, who worked for Joseph Gunnar And Company LLC since October 2003, is accused of sales practice violations. Specifically, Financial Industry Regulatory Authority (“FINRA”) shows that four investors filed disputes involving him. Not only that, but FINRA issued Sica a suspension and fine for unsuitable recommendations. Let’s take a closer look at these incidents.

Joseph Gunnar Client Alleges That Anthony Sica Sold Unsuitable Private Placements

Notably, a client of Joseph Gunnar brought an investment dispute regarding Anthony Sica. In the January 2020 FINRA Arbitration Claim, the client first alleged that Sica sold unsuitable investments. Secondly, Joseph Gunnar is accused of negligent supervision of the securities broker. These allegations concern the securities broker’s private placement transactions. Evidently, the client asked for $750,000 to resolve this ongoing matter.

FINRA Issues Suspension, Fine To Sica For Unsuitable Recommendations

It appears that Anthony Sica received a 3-month suspension and a fine of $20,000 for allegedly recommending bad investments to clients. Specifically, FINRA issued the sanctions in November 2017 to resolve allegations that Sica violated FINRA rules on unsuitable transactions and unauthorized trading.
Specifically, FINRA says that Anthony Sica recommended that an older client with fixed income buy speculative securities. Supposedly, Sica’s recommendations caused the client to have a large concentration in speculative investments. The securities broker purportedly invested the client in a manner that was not in line with their investment objectives. Not only that, but FINRA alleged that Sica traded frequently and caused the client additional losses because of short-term trades. Moreover, he supposedly made unauthorized trades in a different client’s account. As a result, both clients lost money – the first sustained more than $150,000 in losses.

Prior Suitability Dispute About Anthony Sica Comes From A Joseph Gunnar Client

Notably, a second Joseph Gunnar client filed a dispute about Anthony Sica alleging unsuitable trading. In this FINRA Arbitration claim, the client alleged that Sica made unsuitable stock trades. Supposedly, the securities broker also excessively traded equities. Moreover, the client contended that Sica caused them losses on unauthorized trading. It appears that Joseph Gunnar settled this matter through paying the client $302,500.

Client Of Joseph Gunnar Alleges Mismanagement, Poor Performance

Evidently, a third client of Joseph Gunnar came forward to dispute Anthony Sica’s actions. First of all, the client alleged poor performance on stocks and mutual funds. Secondly, the securities broker supposedly mismanaged the client’s account. Thirdly, the client contended that Sica’s unsuitable trading caused damages. It appears that this client received $157,500 in a settlement.

Did You Lose Money By Investing Through Anthony Sica?

Have you incurred damages or losses because of Anthony Sica? If so, touch base with Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer about a possible recovery. Soreide Law Group represents clients on a contingency fee basis. We advance all costs. The firm has recovered millions of dollars for investors that sustained losses due to misjudgments by financial advisors and securities brokers. Evidently, Sica denies accusations of his sales practice violations.
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