Haselkorn & Thibaut has opened an investigation into financial advisor Anthony Sica (CRD# 1332626), previously of Joseph Gunnar & Co. LLC, regarding a pattern of regulatory actions and customer complaints. If you invested with Anthony Sica and have concerns about potential losses or unsuitable recommendations, understanding his background and recent regulatory findings is essential for protecting your financial interests.
Who is Anthony Sica?
Anthony Sica is a former registered representative (CRD# 1332626) who most recently worked with Joseph Gunnar & Co. LLC, a broker-dealer with offices in New York, NY. Over his near four-decade career, Sica has held positions at institutions such as Wachovia Securities, Prudential Securities, and Lehman Brothers, with his longest tenure being at Joseph Gunnar & Co. LLC from 2003 to May 2024.
Key Facts: Anthony Sica – Joseph Gunnar & Co. LLC
| Name | Anthony Sica |
| CRD# | 1332626 |
| Broker-Dealer | Joseph Gunnar & Co. LLC (2003–2024) |
| Industry Experience | 38+ Years |
| Location | New York, NY |
Why is Anthony Sica Under Investigation?
Haselkorn & Thibaut is currently investigating due to a series of serious regulatory actions and investor complaints involving Anthony Sica and his investment recommendations. Most notably:
- Barred by FINRA in 2026 – On March 20, 2026, FINRA permanently barred Anthony Sica after his refusal to participate in testimony regarding his firm’s sales practices, particularly related to public and private offerings of small-cap securities. Failure to cooperate with FINRA is a direct violation of industry regulations.
- Discharged from Joseph Gunnar & Co. LLC – In May 2024, Sica was discharged after declining to complete a required regulatory questionnaire (PAQ) and indicated he would retire instead of responding. Such circumstances are often red flags for clients and mark the conclusion of his four-decade career.
Pattern of Customer Complaints & Regulatory Actions
Investors deserve to know if there is a history of customer complaints or patterns that may impact trust in an advisor. The following events highlight concerns related to Anthony Sica’s conduct:
- FINRA Action in 2017 (Elder Client Violation)
- Made unsuitable, high-risk investment recommendations inconsistent with an elderly client’s financial profile
- Concentrated large portions of client net worth in speculative securities
- Engaged in excessive and unauthorized trading, even executing transactions after a client’s death
- Resulted losses reportedly exceeded $150,000
- Sanctioned with $20,000 fine, restitution, and a three-month suspension
- Customer Settlements
- 2013: $302,500 settlement for unsuitable investments, unauthorized, and excessive trading
- 2010 and 1991: Additional disputes, each resulting in settlements
- 2020: Arbitration seeking $750,000 in damages for alleged fraud, negligent misrepresentation, breach of fiduciary duty, and unsuitable private placements
Key Themes in Complaints:
- Recommendations to invest in complex, illiquid, or high-risk private placements
- Concentration in speculative investments beyond clients’ risk tolerance
- Allegations of misrepresentation of risk and unauthorized trading
Private Placement & Speculative Investment Concerns
Many complaints and regulatory concerns focus on private placements. These investments often involve:
- High risk and limited liquidity
- Less transparency and oversight vs. public securities
- Potential for substantial losses—especially when sold to clients for whom they are inappropriate
FINRA’s investigation targeted Joseph Gunnar & Co. LLC’s practices around small-cap and private offerings, further highlighting concerns about how these products were marketed and sold.
BrokerCheck Public Record Summary
As of June 2024, FINRA BrokerCheck shows only Sica’s May 2024 termination from Joseph Gunnar & Co. LLC as a reportable disclosure event. There are no customer complaints, securities-related litigation, regulatory actions, or bankruptcy records visible at this time. No SEC enforcement actions, administrative proceedings, civil lawsuits, or arbitration awards naming Anthony Sica are found in the public domain.
However, disclosures provided through additional sources and investor arbitration history indicate multiple customer disputes, settlements, and at least one significant regulatory sanction.
Red Flags for Investors
- Failing to cooperate with regulatory investigations
- Multiple customer complaints and large settlements
- History of unsuitable and high-risk investment recommendations
- Sales of complex, illiquid private placements
- Disciplinary actions for elder abuse and unauthorized trading
Investor Guidance – What Should You Do?
If you invested with Anthony Sica at Joseph Gunnar & Co. LLC and experienced significant losses, you may still have options for recovery. Clients who have concerns related to:
- Unsuitable investment recommendations
- Excessive or unauthorized trading
- Fraud or misrepresentation of risk, especially involving private placements
should consider speaking with an attorney experienced in investor claims.
Haselkorn & Thibaut – National Investor Fraud Law Firm
Haselkorn & Thibaut (investmentfraudlawyers.com) has over 50 years of experience representing investors nationwide. With a 98% success rate and millions recovered for harmed investors, the firm provides a free, confidential consultation and works on a no recovery, no fee basis.
If you have questions about losses with Anthony Sica or Joseph Gunnar & Co. LLC, call Haselkorn & Thibaut at 1-888-885-7162.
Next Steps For Investors
- Gather your account statements and any communications with your broker
- Review your portfolio for signs of unsuitable or high-risk investments
- Contact Haselkorn & Thibaut for a free case assessment and discuss potential recovery options
Take action now—protect your retirement savings and investments. You pay nothing unless there is a recovery.
