Richard J. Rubin, Jr., – Engaged in Outside Business Activity
Richard J., Rubin, Jr. Allegedly Participated in Real Estate Matters Involving Just Real Estate, LLC (JRE), a Business Outside of Northwestern Mutual Investment Securities, LLC
Richard J. Rubin, Jr., formerly a registered representative for Northwestern Mutual, was fined $5,000 and suspended for fifteen days from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any and all capacities. Rubin consented, without admitting or denying the allegations, to findings that he engaged in an outside business activity without the written approval of Northwestern, according to FINRA documents currently under review by investor attorneys, Peiffer Wolf Carr & Kane.
Rubin requested permission from Northwestern to own real estate and engage in real estate related outside business activities with Just Real Estate, LLC (JRE), an entity in which Rubin was a partner. Northwestern provided Rubin with written permission to own real estate, which included rental properties, and permitted Rubin to engage in JRE’s business activities. Northwestern specifically barred Rubin from the solicitation of other individuals to invest in Just Real Estate, LLC. However, Rubin allegedly solicited JM to invest $15,000 in a real estate deal in Tampa, FL. The solicitation was allegedly outside of his capacity of a partner of JRE, was allegedly unrelated to the business activities of the entity, and was allegedly prohibited by Northwestern. Rubin allegedly received compensation for his involvement in the real estate deal.
Richard J., Rubin, Jr. Fined and Suspended from Securities Related Business
FINRA Rules provide that no member or registered person may be an employee, independent contractor, sole proprietor, officer, director or partner of another person, or be compensated, or have the reasonable expectation of compensation, from any other person as a result of any business activity outside the scope of the relationship with his or her member firm, unless he or she has provided prior written notice to the member, in such form as specified by the member.
Rubin accepted and consented to the entry of specific findings by FINRA contained within the Letter of Acceptance, Waiver, and Consent (AWC), without admitting or denying FINRA’s findings of fact. FINRA’s entry of findings alleged that Rubin engaged in an outside business activity without the written approval of Northwestern.
Investor Rights Lawyers Investigating
Peiffer Wolf Carr & Kane investor rights attorneys are currently investigating the alleged real estate dealings of Richard J., Rubin, Jr.
Peiffer Wolf Carr & Kane attorneys take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Richard J., Rubin, Jr alleged real estate partnership, Just Real Estate, LLC, may contact the investor rights attorneys at Peiffer Wolf Carr & Kane, Jason Kane or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at (585) 310-5140.