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UPDATE! Anthony Sica and Joseph Gunnar & Co.

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06
Dec

UPDATE! Anthony Sica and Joseph Gunnar & Co.

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UPDATE!  Anthony Sica and Joseph Gunnar & Co.

Joseph Gunnar & Co. Fined for Failing to Supervise Anthony Sica

 

Have you lost money with financial advisor Anthony Sica of New York, New York?  We are investigating allegations made by FINRA (the Financial Industry Regulatory Authority) against Anthony Sica, an advisor with Joseph Gunnar & Co.  FINRA also brought a regulatory complaint against Joseph Gunnar & Co. for failing to supervise Sica.

 

FINRA alleged that Sica recommended that his customer invest $72,000 in an IPO of a speculative pharmaceutical company.  Sica was also alleged to have recommended that his client invest over $100,000 in a development-stage drug company.  FINRA also alleged that Sica engaged in excessive, in-and-out trading.  FINRA alleged that these investments were unsuitable for the client.  FINRA also alleged that Sica engaged in unauthorized trading in a customer’s account after learning that the customer had died.  To settle these allegations, Sica agreed to a three-month suspension, a fine of $20,000, and he agreed to pay restitution of $3,039.

 

In FINRA’s action against Joseph Gunnar & Co., it alleged that the firm failed to establish and maintain a supervisory system to prevent this conduct.  Joseph Gunnar & Co. was fined $60,000 and ordered to review its supervisory policies.

 

Anthony Sica is a financial advisor and registered representative of Joseph Gunnar & Co. from November 2003 to the present.  He works at a branch office in New York, New York.  Sica’s BrokerCheck report discloses that he is the subject of nine customer complaints.

 

Brokerage firms like Joseph Gunnar & Co. have a responsibility to adequately supervise all representatives who are registered through their firm.  Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.

 

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado, the Seattle area, and Ann Arbor, Michigan.  We represent investors in FINRA arbitration proceedings in all 50 states, including numerous investors in New York in the past.  Our attorneys have represented over one thousand investors against many brokerage firms in the past.

 

Click to view:  Sica, Anthony BrokerCheck 12.4.17

Click to view:  Sica, Anthony FINRA AWC

Click to view:  Joseph Gunnar FINRA AWC

 

If you lost money with Anthony Sica or Joseph Gunnar & Co., please CONTACT US at 720-599-3505 for a free evaluation of your case.

 

Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency.  Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency.  All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact.  This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice.  Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis.  In contingent representation, clients may still be liable for costs.

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