Retirees who entrusted their savings to Keith Michael D’Agostino at EF Hutton & Company or Aegis Capital Corp. are now facing the reality of a regulatory suspension and a mounting list of multi-million dollar customer claims. Recent filings reveal that despite his firm repaying more than $1.8 million in losses, regulators have moved forward with significant sanctions following allegations of high-risk investment strategies that targeted senior citizens in Woodbury and Melville, New York.
If you or someone you know has been impacted by Keith D’Agostino or another broker, don’t hesitate to reach out to Meyer Wilson Werning today. Our attorneys are experienced in broker misconduct cases and will help to guide you through the process with a free consultation.
What Do the 2025 FINRA Sanctions Mean for Woodbury Investors?
In December 2025, the Financial Industry Regulatory Authority (FINRA) finalized a Letter of Acceptance, Waiver, and Consent (AWC No. 2022075471001) regarding the conduct of Keith D’Agostino. The regulator found that D’Agostino (CRD# 2837860) willfully violated the Care Obligation of the SEC’s Regulation Best Interest (Reg BI). Specifically, findings stated he recommended speculative, low-priced microcap securities to at least 10 retired and senior investors who had conservative profiles and goals of capital preservation and generating retirement income.
According to public records, these speculative positions allegedly comprised between 35% and 94% of the total account value for some clients. As a result, FINRA imposed significant sanctions to address the alleged misconduct:
- 24-Month Suspension: D’Agostino is suspended from associating with any FINRA member firm in all capacities from January 5, 2026, to January 4, 2028.
- $25,000 Fine: A monetary penalty was levied against the broker in connection with the findings.
- Statutory Disqualification: During the suspension period, he is subject to statutory disqualification status.
- Repaid Losses: While his member firm reportedly repaid $1.8 million in losses to affected customers, FINRA maintained that remediation does not negate the underlying rule violations.
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$350 Million for Our Clients Nationwide.
Significant Customer Disputes and Recent Settlements
The disciplinary history for Keith D’Agostino has expanded significantly with new filings in late 2024 and throughout 2025. These disclosures detail a pattern of alleged unsuitability and breach of fiduciary duty.
- Pending $1,000,000 Claim: A pending dispute filed on October 27, 2025, alleges breach of fiduciary duty, negligence, and breach of contract while D’Agostino was with Aegis Capital Corp.
- Failed Veg House IPO Dispute: An August 2024 claim for $1,000,000 seeks the return of funds for an IPO transaction involving Veg House (via PlantX) that allegedly never took place.
- Major 2025 Settlements: Multiple claims reached resolution in 2025, including a $496,500 settlement in June 2025 and a $409,000 settlement reported in January 2025.
- Additional Resolved Claims: Other settlements include a $150,000 payment in December 2025 and a $225,000 settlement in February 2025 related to structured notes and unsuitable strategies.
- Mounting Disclosures: As of late 2025, his record reflects eighteen customer disclosures, fifteen of which have been filed since March 6, 2023.
Why Were Microcap Stocks and Over-Concentration So Dangerous?
For retirees in the Woodbury and Melville areas, the primary risk identified in these recent actions is the use of microcap securities. These are low-priced stocks that are often thinly traded and subject to extreme volatility, making them illiquid and difficult to sell during market downturns. When an advisor concentrates as much as 94% of a client’s account in such assets, the risk of a total loss of principal becomes a significant threat to a retiree’s financial future.
Under Regulation Best Interest, firms like EF Hutton & Company and Aegis Capital have a legal duty to ensure that recommendations are in the client’s best interest. When a broker ignores a client’s low risk tolerance, it can lead to actionable claims for recovery. Even if a firm has partially repaid some losses, investors may still have additional claims for lost opportunity, interest, and other related damages.
Our lawyers are nationwide leaders in investment fraud cases.
Meyer Wilson Werning Advocates for Retired Investors
If you or someone you know has suffered losses due to the actions of brokers like Keith D’Agostino, the experienced attorneys at Meyer Wilson Werning are here to help. With more than 20 years in the industry and over $350 million recovered for our clients, our focus on investment fraud and securities litigation has helped many investors recover their losses. Contact us today for a free consultation to discuss your case and learn how we can assist you in protecting your financial interests.
Frequently Asked Questions from Investors
What is the current status of Keith D’Agostino’s registration?
As of January 2026, Keith D’Agostino is no longer registered with any broker-dealer and is serving a 24-month suspension from the securities industry that concludes in January 2028.
What specifically triggered the $1.8 million in losses mentioned by FINRA?
According to the December 2025 AWC, the losses were caused by D’Agostino recommending speculative, low-priced microcap stocks to senior investors with conservative goals, leading to extreme account concentration.
Can I file a claim if the firm already repaid some of my losses?
Yes. Firm remediation often covers principal losses but may not include interest, commissions, or the lost opportunity of what your money would have earned in a proper investment.
What was the issue with the PlantX and Veg House IPO?
Investors have filed claims for the return of $1,000,000 after an IPO that allegedly failed to materialize. EF Hutton reportedly negotiated a repurchase of these shares that was slated for October 2024.
How do I verify my advisor’s disciplinary record?
You can search the FINRA BrokerCheck database using an advisor’s name or CRD number (Keith D’Agostino: 2837860) to see all regulatory actions and customer disputes.
Recovering Losses Caused by Investment Misconduct.
