Keith D’Agostino: Ex-Aegis Advisor Suspended over Microcap Sales

Former Woodbury and Melville, New York financial advisor Keith D’Agostino (CRD# 2837860) was recently sanctioned and suspended in connection with allegedly improper investment recommendations. Financial Industry Regulatory Authority records show that he was most recently registered with EF Hutton and Aegis Capital.

A Letter of Acceptance, Waiver, and Consent (No. 2022075471001) describes FINRA’s disciplinary action against Mr. D’Agostino. Filed in December 2025, it alleges “recommended that retired and senior investors purchase speculative and low-priced securities” and that these recommendations exposed the customers to “a substantial risk of loss” that was not consistent with their investment profiles and which therefore was not in their best interests. According to the letter, he specifically recommended that 10 customers, “all of whom were retired or senior investors,” invest in “low-priced securities from microcap investors.” These recommendations caused the investors to suffer more than $1.8 million in losses. FINRA found that his recommendations were not in their best interests, and that he willfully violated both FINRA Rule 2010 and the SEC’s Regulation Best Interest. As a result, it suspended him from associating with any FINRA member firm for a period of 24 months. It also ordered him to pay a fine of $25,000.

Mr. D’Agostino’s BrokerCheck report discloses two dozen investor complaints. The most recent, filed in October 2025, alleges that as a representative of Aegis Capital, he breached his fiduciary duty, acted negligently, and breached contract. The pending complaint alleges damages of $1 million.

An earlier investor complaint, filed in 2024, alleged that as an Aegis Capital representative, he over-concentrated investments and made unsuitable recommendations. The complaint reached a settlement of $409,000.

According to the Financial Industry Regulatory Authority, Keith D’Agostino holds 27 years of securities industry experience. Most recently based in Woodbury, New York, he was last registered with EF Hutton & Company from 2023 until 2024. His past registrations include Aegis Capital, Stifel Nicolaus, Oppenheimer & Company, and Wachovia Securities. He is not currently registered with any broker-dealer firm and has been suspended from registering with any FINRA member for a period of 24 months. (Information current as of December 14, 2025.)

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