Robert Settimio Cupello

(CRD #1036533, Pittsford, New York)

February 18, 2026 – An AWC was issued in which Robert Settimio Cupello was fined $5,000 and suspended from association with any FINRA member in all capacities for two months. Without admitting or denying the findings, Cupello consented to the sanctions and to the entry of findings that he recommended that six senior customers exchange their existing deferred variable annuity contracts to purchase new deferred variable annuities without a reasonable basis to believe that the transactions were suitable. The findings stated that Cupello failed to conduct a reasonable comparative analysis of the customers' existing and prospective living benefit riders to determine whether the customers would benefit from the new riders. Cupello did not have a reasonable basis to believe that the exchanges to purchase variable annuities with maximum guaranteed withdrawal benefit riders were suitable for the six senior customers. Each customer intended to rely on income from these variable annuities for their retirements, most within or around a year of making the exchange. Most customers had already started taking income from their existing annuities. Cupello thus did not have a reasonable basis to believe that the customers would benefit from the new rider's step-up feature. Moreover, for all of the customers, Cupello failed to reasonably consider the risk and impact of a reduction in the withdrawal rate when the contract value reached zero. Cupello assumed that the customers would not outlive their contract balances without reasonably considering various factors that could affect that assumption, including market performance, unanticipated needs and life expectancy. The suspension is in effect from March 16, 2026, through May 15, 2026. (FINRA Case #2025086007201) If you have suffered losses as a result of Robert Settimio Cupello’s act and/or actions, we would like to hear from you. We are currently investigating claims on behalf of clients who have suffered significant losses in their portfolios that are managed by Robert Settimio Cupello. The Schwartz Law Firm represents investors in claims against financial advisors and their firms. If you have questions about your potential claim or need assistance from an investment fraud lawyer, please contact us at 866-330-6707 or email Matthew Schwartz directly at mschwartz@tslfirm.com.