Keith Dagostino: FINRA Suspension, Investor Complaints, and Lawsuits

Keith Dagostino suspended: FINRA Complaints, and Lawsuits

December 2025  — FINRA has reportedly announced a new Acceptance, Waiver and Consent (AWC) involving Keith Dagostino (CRD #2837860) a previously registered broker with a long disciplinary history and numerous customer complaints. According to FINRA, Dagostino reportedly violated Regulation Best Interest (Reg BI) and FINRA Rule 2010, resulting in a 24-month suspension and a $25,000 fine.

Dagostino has reportedly been registered with multiple brokerage firms over a 27-year career, including EF Hutton LLC, Aegis Capital Corp., Stifel Nicolaus, Oppenheimer & Co., and Ladenburg Thalmann. His record reportedly reflects 24 disclosures, including a significant number of pending and settled investor complaints alleging unsuitable investments, breach of fiduciary duty, and negligence.

This post reviews the FINRA findings, the pattern of customer allegations, and what investors may be able to do to recover losses.

FINRA AWC: Unsuitable Recommendations to Retired and Senior Investors

According to FINRA, from July 2020 through June 2023, Keith Dagostino allegedly recommended speculative and low-priced securities to retired and senior investors. FINRA reportedly found that these recommendations:

• Exposed customers to a substantial risk of loss

• Were inconsistent with the customers’ investment profiles

• Were not in the customers’ best interests

As a result, FINRA determined that Dagostino willfully violated:

• The Care Obligation of Regulation Best Interest (Exchange Act Rule 15l-1(a)(1))

• FINRA Rule 2010, which requires brokers to observe high standards of commercial honor

FINRA imposed a 24-month suspension and a $25,000 fine as part of the settlement.

Pattern of Investor Complaints and Lawsuits

The FINRA AWC follows years of investor complaints and settlements involving Dagostino. Customer disputes span more than a decade and include allegations such as:

• Unsuitable investment recommendations

• Over-concentration in speculative securities

• Breach of fiduciary duty

• Misrepresentation and omissions

• Negligence and account mismanagement

• Unauthorized and excessive trading

Recent and Notable Complaints

Dagostino currently faces multiple pending customer disputes, including:

• October 2025 — Allegations of unsuitable investments

• October 2025 — Claims for breach of fiduciary duty, breach of contract, and negligence, seeking $1 million

• March 2025 — Unsuitable investment allegations seeking $400,000

• February 2025 — Allegations of unsuitable investments and fiduciary breaches

• January 2025 — Claims of unsuitable investments and breach of fiduciary duty

Significant Settlements

Dagostino has also been involved in numerous settled claims, including:

• May 2024 — Settlement of $1,461,600 for unsuitable recommendations and account mismanagement

• June 2024 — Settlement of $409,000 for over-concentration and suitability issues

• August 2024 — Settlement of $496,500 on a $1 million claim alleging unsuitable strategy and fiduciary breaches

• August 2024 — Settlement involving allegations of unauthorized trading, excessive trading, and misrepresentation

In total, investor settlements involving Dagostino amount to millions of dollars, reinforcing FINRA’s concerns about his recommendation practices.

Brokerage Firms Where Dagostino Was Registered

During the period covered by customer complaints and FINRA findings, Keith Dagostino was registered with several brokerage firms, including:

• EF Hutton LLC (2023–2024)

• Aegis Capital Corp. (2014–2023)

• Stifel, Nicolaus & Company, Inc. (2010–2014)

• Oppenheimer & Co. Inc. (2005–2010)

• Ladenburg Thalmann & Co., Inc.

• Wachovia Securities LLC

• Quick & Reilly, Inc.

• Ladenburg Capital Management Inc.

Brokerage firms have a duty to reasonably supervise their registered representatives. When unsuitable recommendations occur, firms may be held liable for failure to supervise, even if the broker is no longer employed there.

Regulation Best Interest and Senior Investors

Reg BI was designed to strengthen protections for retail investors, particularly retirees and seniors who may rely heavily on broker recommendations for income and capital preservation. FINRA’s findings against Dagostino underscore that recommending speculative, low-priced securities to conservative investors can violate federal securities laws.

Investors harmed by unsuitable recommendations may be entitled to pursue recovery through FINRA arbitration.

How The White Law Group Helps Investors

The White Law Group represents investors nationwide in FINRA arbitration claims involving:

• Unsuitable investment recommendations

• Speculative microcap and low-priced securities

• Over-concentration and excessive risk

• Breach of fiduciary duty and negligence

Our firm has recovered millions of dollars for investors and routinely handles cases involving brokers with extensive disciplinary histories.

FAQs About Keith Michael Dagostino

Who is Keith Michael Dagostino?

Keith Michael Dagostino (CRD #2837860) is a previously registered broker with over 27 years of experience who has been associated with firms including EF Hutton, Aegis Capital Corp., Stifel, and Oppenheimer. He has 24 disclosures, including numerous customer complaints and settlements.

Why did FINRA suspend Keith Dagostino?

FINRA reportedly suspended Dagostino for 24 months for willfully violating Regulation Best Interest and FINRA Rule 2010 by recommending speculative, low-priced securities to retired and senior investors that were not in their best interests.

Can investors file lawsuits or arbitration claims against Dagostino or his firms?

Yes. Investors typically pursue recovery through FINRA arbitration, which allows claims against both the broker and the supervising brokerage firm. Even if the broker has left the firm, the firm may still be liable for investor losses.