Steven Louis Schlenker (CRD #7116686) Has an Employment Separation Disclosure on FINRA BrokerCheck

Steven Louis Schlenker (CRD #7116686) was previously registered as a broker. We reviewed his BrokerCheck report on March 25, 2026. It reflects one employment separation disclosure. If you worked with Steven Schlenker and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Employment Separation

Steven Schlenker’s FINRA BrokerCheck Report reflects one employment separation disclosure. A summary of the disclosure is below:

On January 5, 2026, Fidelity Brokerage Services LLC reported Steven Schlenker was discharged. Steven Schlenker’s FINRA BrokerCheck says the allegation involved inaccurately reflecting time worked on internal company time sheets. The disclosure also says the matter was not sales-practice related.

Rule Summary #1: FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade)

FINRA Rule 2010 requires associated persons and member firms to observe high standards of commercial honor. Record issues that lead to a discharge can raise concerns about honesty, accuracy, and professional conduct.

Rule Summary #2: FINRA Rule 3110 (Supervision)

FINRA Rule 3110 requires firms to maintain a supervisory system designed to achieve compliance with securities laws and FINRA rules. A disclosure tied to internal records can raise questions about oversight, controls, and escalation inside the firm.

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, Steven Schlenker:

Was previously registered with Fidelity Brokerage Services LLC.

Has passed the Securities Industry Essentials (SIE) exam. Steven Schlenker has also passed Series 63, Series 7TO, and Series 6TO.

Public registration records reflect that his securities career began in 2019 and that he worked at two firms before leaving the industry.

Kurta Law Can Help

If you worked with Steven Schlenker and 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 possible next steps.