Jeffrey Sy Rubenstein of New York New York a stockbroker currently employed by Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $100,000.00 in damages based upon accusations that between 2012 and 2017, contractual and fiduciary obligations to the customer had been breached and the customer’s municipal debt investment transactions had been handled in a negligent fashion. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-02301 (June 21, 2018).
FINRA Public Disclosure reveals that Rubenstein has been identified in five more customer initiated investment related disputes containing allegations of his misconduct while employed with Janney Montgomery Scott LLC, Prudential Securities Incorporated and Thomason McKennon. For example, a customer initiated investment related civil action involving Rubenstein’s activities was resolved for $11,000.00 in damages supported by accusations that Rubenstein utilized the customer’s margin to make an unsuitable purchase of a government debt investment. Civil Action No. 84CIV4406.
Subsequently, a customer initiated investment related complaint involving Rubenstein’s conduct was settled for $12,500.00 in damages founded on allegations of poor performance and suitability concerning the customer’s investment in the Salomon Worldwide Bond Fund. Then, a customer initiated investment related arbitration claim concerning Rubenstein’s activities was resolved for $60,000.00 in damages based upon accusations of, inter alia: violation of New York General Business Law § 349; breach of fiduciary duty; failure to execute; unauthorized trading; misrepresentation; misleading and false statements; violation of Securities Exchange Act of 1934 Section 10(b) and Securities and Exchange Commission (SEC) Rule 10b-5; suitability; and fraud in reference to over-the-counter equities held in the customer’s investment portfolio. National Association of Securities Dealers (NASD) Arbitration No. 02-000090 (Feb. 24, 2003).
On September 3, 2008, another customer filed an investment related complaint regarding Rubenstein’s activities where the customer sought more than $5,000.00 in damages supported by allegations that Rubenstein made unsuitable investment recommendations to the customer concerning GMAC Notes because they failed to conform to the customer’s objectives for investing. Further, a customer initiated investment related arbitration claim regarding Rubenstein’s conduct was settled for $25,000.00 in damages founded on accusations that equities were misrepresented by Rubenstein, and the customer’s account was allocated in an unsuitable manner. FINRA Arbitration No. 09-05063 (Oct. 1, 2010).
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