Ernest Anthony Cozzi (CRD #1173200) Has Customer Dispute and Financial Disclosures on FINRA BrokerCheck

Ernest Anthony Cozzi (CRD #1173200) is a broker with six customer dispute disclosures and one financial disclosure on FINRA BrokerCheck. We reviewed his BrokerCheck report on June 10, 2026. It reflects one pending customer dispute, five final customer disputes, and one final financial disclosure. If you invested with Ernest Cozzi and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Ernest Cozzi’s FINRA BrokerCheck Report reflects six customer dispute disclosures. A summary of two disputes is below:

On May 18, 2026, a customer alleged Ernest Cozzi failed to follow instructions. The customer sought $50,000 in damages. Ernest Cozzi’s FINRA BrokerCheck report lists the product as listed equity. The dispute remains pending.

On December 9, 2014, a customer alleged unsuitability, misrepresentation, and failure to perform due diligence. The customer sought $75,000 in damages. Ernest Cozzi’s FINRA BrokerCheck report lists the product as a private placement. The dispute settled for $14,999 on September 1, 2015. Ernest Cozzi’s statement denied wrongdoing and said the matter settled to avoid litigation costs.

Ernest Cozzi’s  FINRA BrokerCheck report reflects  Four other customer dispute disclosures  that are not summarized above.

Financial Disclosures

Ernest Cozzi’s FINRA BrokerCheck Report reflects one financial disclosure. A summary is below:

On February 29, 2024, Ernest Cozzi reported a Chapter 11 bankruptcy. Ernest Cozzi’s FINRA BrokerCheck report lists the matter as final and closed. The report shows a March 3, 2025 disposition date. Ernest Cozzi’s FINRA BrokerCheck report lists the court as the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division. The docket is 24-02892. His statement says a tax filing issue created a large debt and that he reorganized with counsel.

Rule Summary #1: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 requires a reasonable basis for a recommendation. The rule considers the customer’s profile, including risk, time horizon, and liquidity needs. Customer disputes can question whether a product fit those factors.

Rule Summary #2: FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade)

FINRA Rule 2010 requires high standards of commercial honor. It also requires just and equitable trade principles. Complaints involving misrepresentation or ignored instructions can raise questions under this rule.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Ernest Cozzi:

Is currently registered with Cetera Investment Advisers LLC and Cetera Wealth Services, LLC.

Has passed the Securities Industry Essentials (SIE) exam. Ernest Cozzi has passed Series 7 and Series 6. He has also passed Series 63 and Series 26.

Was previously registered with firms that include Cetera Advisor Networks LLC, Summit Financial Group Inc, and Summit Brokerage Services, Inc.

Kurta Law Can Help

If you have worked with Ernest Cozzi and have concerns about his activity, Kurta Law may be able to help. The firm can review potential claims and investor protections. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | What is Securities Fraud

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. A lawyer can review the facts and explain possible next steps.