The flashy celebration by trainees from the academy of the FSB, the KGB's post-Soviet successor, was captured in a slick video made by the would-be agents and posted online.
The graduates' behaviour sparked indignation among both the public and senior intelligence officers who said it did not square with the requirements of a job characterised by secrecy.
The FSB said in a statement that the incident would impact on the graduates' future careers, without giving more details.
"The immodest, demonstrative behaviour linked to the rentals from a luxury car company sparked justified indignation among citizens and strong condemnation from the community of military security bodies as not complying with the code of ethics and official conduct," the FSB said in a statement.
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The FSB said that the incident marked the first time in many years that the actions of its students outside the academy had attracted public attention.
The agency, however, also said that a "number of doctored videos and other materials" had been used online to exaggerate the extent of its graduates' celebration.