Sebastian Bongiovanni Investigated by FINRA

Sebastian Bongiovanni (CRD# 4398600[1]), formerly a broker registered with Spartan Capital, violated securities industry rules, according to proposed allegations. MDF Law is investigating the former New York City-based financial professional for similar conduct. If you are a former client with concerns about your accounts, reach out for a free consultation.

Continue reading this post to learn more about Mr. Bongiovanni’s history as a broker. The information below is based on a February 5, 2025 review of his BrokerCheck profile, a Financial Industry Regulatory Authority record. 

Why Did FINRA Investigate Sebastian Bongiovanni?

On December 13, 2024, FINRA disclosed the results of an investigation into Mr. Bongiovanni. As his BrokerCheck profile reflects, the regulator arrived at a preliminary determination to recommend disciplinary action against him. The proposed action would specifically allege that he violated FINRA Rule 8210 and 2010. These allegations would stem from findings that he failed to completely respond to requests for information made by FINRA. The proposed allegations have not yet risen into a formal action.

Proposed Allegations of FINRA Rule Violations

The allegations in the proposed disciplinary action relate to two important FINRA rules. Under Rule 8210, FINRA may require persons under its jurisdiction to provide documents, information, and testimony concerning matters under its investigation. It also requires such persons to comply with these requests. Rule 2010, meanwhile, requires brokers to observe high standards of commercial honor, as well as just and equitable principles of trade. Violations of Rule 8210 are considered violations of Rule 2010. 

Past Sanction Alleged Failure to Comply with FINRA Requests

The proposed disciplinary action would not be the first one against Mr. Bongiovanni. According to his BrokerCheck profile, FINRA previously sanctioned him on May 1, 2024. This disciplinary action stemmed from allegations that he “failed to respond to FINRA requests for information.” As a result, he was barred from associating with any member firm in all capacities. The bar commenced on August 5, 2024 and lifted on November 1, 2024. 

Firm Settled 2016 Investor Dispute

On November 21, 2016, an investor lodged a dispute involving Mr. Bongiovanni. This claim included allegations of unsuitable investment recommendations, unauthorized trades, and fraudulent misrepresentations and omissions. It stemmed from investments in real estate, stock, and closed-end funds. In 2018 his former member firm settled the dispute for $91,000.

FINRA: Broker Last Based in NYC 

Mr. Bongiovanni launched his career as a broker in 2001, according to his BrokerCheck profile. That year, he registered with Prime Charter’s office in New York. Over the following decades, he went on to work with firms including Joseph Gunnar & Company, J.P. Turner & Company, and Newbridge Securities. He joined his most recent firm, Spartan Capital Securities, in 2019, working at its New York City office until his departure in 2024. Boasting 23 years of experience as a broker, he has completed three industry exams, including the Series 7 and the Series 63.

Investment Losses? Call MDF Law for a Free Consultation

Did you lose money you couldn’t afford to lose on unsuitable, misrepresented, and/or risky investments recommended by Sebastian Bongiovanni? You may be able to recover damages through the FINRA arbitration process. Having secured more than $100 million in recoveries for our clients, MDF Law[2] takes cases on contingency: you only pay a fee if you win. Call 800-767-8040 for a free consultation today.