ANTHONY TRICARICO formerly of AEGIS

According to FINRA’s BrokerCheck, available to the public on FINRA’s website, ANTHONY TRICARICO, formerly with Aegis Capital Corp. of New York, NY, has been subject to 3 “Customer Disputes” and three “Regulatory” issues.  Tricarico has been in the securities industry for 37 years and was listed as a broker with 12 firms. He was with Aegis from 03/23/2010 until 07/30/2020. He is currently not registered.

In February 2021, according to BrokerCheck, a “Customer Dispute” settled for $450,000, following the allegations of, “Time frame: unspecified. Claimants allege unsuitable investments.” There are also two other “Customer Disputes” that have settled. Tricario denies the allegations.

In January 2021, FINRA fined ANTHONY TRICARICO, $5,000 and suspended him for 6 months following the allegations of, “Without admitting or denying the findings, Tricarico 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.” There are two additional “Regulatory” allegations on Tricarico’s report.

If a broker excessively trades a client’s account it is called “churning.” There are additional profits to be made by the broker through generating commissions on the numerous trades. However the frequency the account is churned, plus the expenses incurred, may make it difficult for the investor to profit from the trading.

If you’ve suffered financial losses due to the actions or recommendations of broker, ANTHONY TRICARICO, formerly of Aegis Capital of New York, NY, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.

Soreide Law Group operates on a contingency fee basis, no fee if no recovery.  We represent our clients nationwide before FINRA.