Tony Tricarico (CRD #: 1047416), a barred New York broker previously registered with Aegis Capital, has consented to a FINRA fine and a six-month suspension, according to his BrokerCheck record, accessed on February 10, 2021.

Excessive Trading

On January 22, 2021, Tony Tricarico of Aegis Capital entered into an Acceptance, Waiver, and Consent agreement with FINRA in which he consented to the findings that he engaged in excessive and unsuitable trading. FINRA Rule 2111 does not provide an exact definition of what constitutes excessive trading, relying instead on a cost-to-equity ratio. This ratio takes the value of the portfolio and compares it to the cost of executing trades. A cost-to-equity ratio higher than 20% indicates excessive trading. For one portfolio, FINRA estimates that Tricarico had a cost-to-equity ratio of 161%. Another one of Tricarico’s investors had a portfolio with a cost-to-equity ratio of 91.48%. As part of the terms of his AWC, Tricarico consented to a fine of $5,000 and a six-month suspension. You can read a copy of his AWC here.

There are two older investor disputes on Tricarico’s record, both of which include allegations of account churning. These two disputes collectively resolved for $110,000.

Tony Tricarico has passed the Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, and the Series 7 General Securities Representative Examination.

Tony Tricarico has worked in the securities industry for 37 years. During his career, he has registered with the following firms:

  • Aegis Capital Corp (CRD #: 15007)
  • Gunnallen Financial (CRD #: 17609)
  • The Concord Equity Group (CRD #: 14569)
  • Fahnestock & Co (CRD #: 249)
  • Josephthal & Co (CRD #: 3227)
  • Robb Peck McCooey Clearing Corporation (CRD #: 7432)
  • Oscar Gruss & Son (CRD #: 2091)
  • Shamus Group (CRD #: 5036)
  • Investors Associates (CRD #: 958)
  • Whale Securities (CRD #: 13516)
  • Lehman Brothers (CRD #: 7506)
  • Blinder Robinson & Co (CRD #: 5096)

If Tony Tricarico was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email info@fkesq.com for a free case consultation with a securities attorney.

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