Sean T. Sullivan: Broker Investigation and Customer Complaints
The White Law Group is investigating potential securities claims involving former financial advisor Sean T. Sullivan (CRD #6283466) after numerous customer complaints and a pending FINRA disciplinary action.
According to FINRA’s BrokerCheck, Sullivan was registered in the securities industry for nine years and worked with four different firms, including Aegis Capital Corp., Spartan Capital Securities, and most recently, Sovereign Global Advisors LLC. He is no longer registered as a broker or investment advisor.
FINRA Complaint Against Sean Sullivan
In May 2025, FINRA filed a disciplinary complaint against Sullivan (Disciplinary Proceeding No. 2022075569401) alleging:
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Unauthorized Trading: FINRA alleges that in June 2022, Sullivan placed at least 14 trades totaling more than $250,000 in four customer accounts without their knowledge or approval, in violation of FINRA Rule 2010.
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Failure to Disclose a Felony Charge: From April through July 2022, Sullivan allegedly failed to update his Form U4 to disclose that he had been charged with a felony, in violation of FINRA By-Laws and Rules 1122 and 2010.
These are serious allegations that could result in significant disciplinary action, including a bar from the securities industry.
Customer Complaints and Settlements
In addition to the FINRA complaint, Sullivan has been the subject of at least 9 customer disputes during his career, several of which were settled for significant sums:
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April 2023: Settlement of $87,500 for allegations of unauthorized trading, excessive trading, suitability issues, fraud, and negligence.
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October 2022: Settlement of $75,000 for allegations of unsuitable investment recommendations.
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August 2022: Settlement of $122,100 for unauthorized trading and failure to follow instructions.
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January 2020: Settlement of $145,000 for allegations including unsuitability, fraud, negligence, and elder abuse.
Other disputes, including claims alleging breach of fiduciary duty, churning, and negligence, were either withdrawn or remain pending.
Sullivan was also terminated from Aegis Capital Corp. in July 2022 after multiple allegations of unauthorized trading.
Recovering Investment Losses
Broker-dealers are required to reasonably supervise their advisors to ensure compliance with FINRA rules and securities laws. If a firm fails to do so, it may be liable for investor losses through FINRA arbitration.
If you have suffered investment losses with Sean Sullivan or any of the firms where he was registered, you may be able to recover your losses through a FINRA arbitration claim.
FINRA Arbitration vs. Class Action
Investors often wonder whether to join a class action or pursue an individual FINRA arbitration claim. Unlike class actions, FINRA arbitration allows investors to pursue claims directly against the brokerage firm responsible for supervising the broker. This process is typically faster and may result in higher recoveries for wronged investors.
The White Law Group Can Help
The White Law Group has represented hundreds of investors in FINRA arbitration claims nationwide against broker-dealers for improper investment recommendations, unauthorized trading, and failure to supervise.
If you believe you were a victim of Sean Sullivan’s misconduct, please call our offices at (888) 637-5510 for a free consultation.
Frequently Asked Questions (FAQs)
1. What is Sean Sullivan accused of by FINRA?
FINRA alleges that Sullivan engaged in unauthorized trading and failed to disclose a felony charge on his Form U4.
2. Can I sue my broker directly for investment losses?
In most cases, investor claims must be pursued through FINRA arbitration against the brokerage firm responsible for supervising the advisor.
3. How long do I have to file a claim?
FINRA arbitration claims generally must be filed within six years of the alleged misconduct, though timelines can vary based on the circumstances.
