Sean T. Sullivan Cited By FINRA For Unauthorized Trading Allegations

Sean T. Sullivan (CRD#: 6283466) is a previously registered broker last employed with Sovereign Global Advisors LLC of Denver, Colorado. His previous employers were Spartan Capital Securities, LLC (CRD#:146251) of Garden City, New York, Aegis Capital Corp. (CRD#:15007) of Melville, New York, and Joseph Stone Capital L.L.C. (CRD#:159744) of Hauppauge, New York. He has been in the industry since 2014.

Sullivan’s CRD contains 11 disclosures, including 9 customer disputes. The most recent disclosure is a disciplinary action by FINRA related to Sullivan’s time at Aegis. During his tenure at Aegis, Sullivan placed 14 unauthorized trades in the non-discretionary accounts of four customers, who were all over the age of 60 and had a collective account value of $250,000. He neither contacted these customers nor obtained their permission to make these transactions on their behalf. The firm reversed the trades for three of the customers while the fourth filed a complaint with a state regulator, closed his account and transferred his holdings to a different broker-dealer. The FINRA disciplinary action is currently “pending.”

Aegis discharged Sullivan on 7/8/2022, citing unauthorized trading. Sullivan’s rebuttal claimed that the firm was aware that he was seeking new employment, but no one disclosed any allegations of unauthorized trading. However, Sullivan failed to include this information in his Form U5 when he left Aegis. Instead, his subsequent employer, Spartan Capital Securities, found the information during a routine pre-employment background check.

Sullivan has additional customer disputes in his CRD. Most recently, one filed on 5/25/2025 includes allegations of “unsuitable investment, breach of fiduciary duty, misrepresentation, breach of contract” during 2018. This coincides with the complaints of one of the four customers for whom Sullivan made unauthorized transactions.

Additional customer disputes have either settled or been withdrawn. These include allegations of unauthorized transactions, elder abuse, common law fraud, breach of contract, negligence, excessive trading, unsuitable recommendations investment strategies, and breach of fiduciary duty.

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