The allegations read: Without admitting or denying the findings, sica consented to the sanctions and to the entry of findings that he made unsuitable recommendations to an elderly customer living on a fixed income. The findings stated that sica repeatedly recommended that the customer purchase high-risk, speculative securities that were inconsistent with her investment profile. Sica's recommendations often resulted in an undue concentration of the customer's account, which represented substantially all of her liquid assets, in speculative securities. Further, sica often engaged in short-term in-and-out trading of the speculative investments in the customer's accounts causing substantial losses. Sica's recommendations resulted in losses of more than $150,000. The findings also stated that sica engaged in unauthorized trading by placing trades in the ira accounts of a customer who sica knew was deceased causing aggregated losses on the trades totaling approximately $3,039.
