Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on August 16, 2016 indicate that New York-based Oppenheimer & Company broker/adviser Jeffrey Rubenstein has received several customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Rubenstein (CRD# 850152).
Jeffrey Rubenstein has spent 34 years in the securities industry and has been registered with Oppenheimer & Company in New York, New York since 2012. Previous registrations include Janney Montgomery Scott in New York, New York; Prudential Securities in New York, New York; Thomson McKinnon Securities in New York, New York; and EG Frances & Company. He is a registered broker and investment adviser with nine US states: California, Florida, Illinois, Massachusetts, New Jersey, New York, Ohio, Pennsylvania, and Virginia.
According to his BrokerCheck report, Jeffrey Rubenstein has received four customer complaints.
In 2009, a customer alleged Jeffrey Rubenstein, while employed at Janney Montgomery Scott, misrepresented various investments and unsuitably over-concentrated certain investments. The complaint settled in 2010 for $25,000, to which Mr. Rubenstein individually contributed $12,500.
In 2002, a customer alleged Jeffrey Rubenstein, while employed at Janney Montgomery Scott, misrepresented material facts, committed fraud, breached his fiduciary duty, failed to execute, and executed unauthorized trades. The complaint settled in 2003 for $60,000.
In 1994, a customer alleged Jeffrey Rubenstein, while employed at Prudential Securities, recommended an investment in a Saloman Worldwide bond fund that provided a dissatisfying performance. The complaint settled for $12,500.
In 1984, a customer alleged Jeffrey Rubenstein, while employed at Thomson McKinnon, executed an unsuitable purchase on margin. The complaint settled in 1985 for $11,000.
“Margin” refers to the practice of borrowing funds from one’s broker or investment adviser to purchase a security, with that security itself used as collateral in the transaction. There are many benefits to purchasing securities on margin, chiefly the increase of purchasing power that allows investors to buy more securities without completely paying for them. There are also many risks, chiefly the increase in potential for significant losses. Brokers, investment advisers, and broker-dealer firms who unsuitably recommend investments on margin may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have complaints regarding Jeffrey Rubenstein, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recoup your losses. All cases are taken on contingency: we only receive payment if and when you recover money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.