Stephen Paul Ziniti (CRD #841719) Has 2 Customer Dispute Disclosures on FINRA BrokerCheck

Stephen Paul Ziniti (CRD #841719) was previously registered as a broker and has two customer dispute disclosures on FINRA BrokerCheck. We reviewed his BrokerCheck report on March 11, 2026. It reflects two customer disputes. If you invested with Stephen Ziniti and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Stephen Ziniti’s FINRA BrokerCheck Report reflects two customer dispute disclosures. Summaries of the disputes are below:

On January 26, 2026, a customer alleged misrepresentation of a flexible premium variable universal life insurance policy sold in 2002. The customer sought $5,000 in damages. Stephen Ziniti’s FINRA BrokerCheck report lists the product as insurance and shows the complaint was denied on February 11, 2026.

On May 19, 2000, a customer alleged Stephen Ziniti did not disclose that a variable life policy failed the “7-pay maximum guidelines,” which allegedly triggered adverse tax consequences. The customer also alleged a modified endowment contract disclosure form signature was forged and sought $38,500 in damages. Stephen Ziniti’s FINRA BrokerCheck report shows the complaint was denied on June 23, 2000, and includes his statement denying the allegations.

Rule Summary #1: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 requires a broker to have a reasonable basis to believe a recommendation fits the customer’s profile. Complaints about variable life insurance can raise questions about tax status, liquidity needs, objectives, and whether the product matched the investor’s needs.

Rule Summary #2: FINRA Rule 2210 (Communications with the Public)

FINRA Rule 2210 requires communications to be fair, balanced, and not misleading. A dispute about missing disclosures on policy features or tax effects can raise the same investor-protection concerns.

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, Stephen Ziniti:

Is not currently registered as a broker.

Has passed the Securities Industry Essentials (SIE) exam. Stephen Ziniti has passed Series 7, Series 6TO, and Series 1. He has also passed Series 65 and Series 63.

Was previously registered with firms that include Osaic Wealth, Inc., American Portfolios Financial Services, Inc., and Nathan & Lewis Securities, Inc.

Kurta Law Can Help

If you have worked with Stephen Ziniti and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | 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. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain your options.