Anthony Edward Locascio (also known as Tony Locascio) of Clinton New Jersey a stockbroker currently employed by Kovack Securities Inc. is referenced in a customer initiated investment related complaint which was settled on August 23, 2018 to resolve allegations that the customer had been sold a variable annuity which failed to be appropriate and which exposed the customer to hefty surrender charges.

This is not the first time that Locascio has been subject of a customer dispute concerning the suitability of his transactions. Specifically, Financial Industry Regulatory Authority (FINRA) reveals that a customer filed an investment related complaint on January 23, 2018 where the customer sought more than $5,000.00 in damages founded on accusations that while Locascio was associated with Kovack Securities, unsuitable investments were selected by the stockbroker; the customer’s investment account was over-concentrated exposing the customer to increased risks and losses; and omissions had been made concerning the consequences of withdrawals from the customer’s account.

Locascio has been registered with Kovack Securities since October 15, 2014.

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