Last Updated: March 2024 (Southlake, Texas)
Reuben Brown Investigation Summary
Here’s what you need to know about Southlake, Texas, stockbroker Reuben Brown:
- Name: Mr. Reuben Lamont Brown
- Current Employer: Barred from associating with any FINRA member in all capacities.
- Previous Firms: Edward Jones
- Function: Stock Broker/ Financial Advisor/ Registered Investment Advisor
- Aliases: Reuben Brown
- Primary Location: Southlake, Texas
- CRD 7089559
- Can Reuben Brown be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: Yes
- Discharged by a prior employer: Yes
- Pending Customer Dispute Seeks Damages of $180,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Reuben Brown As Your Stockbroker?
Reuben Brown was recently barred from the securities industry by FINRA. In the Letter of Acceptance, Waiver and Consent executed on 3/4/24, Brown consented to findings that he received a notice from FINRA to appear for on the record testimony pursuant to FINRA Rule 8210, but refused to comply.
In 8/2022 Reuben Brown was discharged by Edward Jones, where he had worked since 8/2022. Edward Jones alleges that Brown violated FINRA Rule 3280 and the Firm’s policy regarding Private Securities Transactions and Selling Away.
According to a client, Brown suggested an investment opportunity outside the firm that had zero risk and zero tax and was represented to be a short term investment of only a few months. A year later the client had not received no return of funds and has been assessed tax liability of $30,000. The customer seeks damages of $180,000 in this pending customer dispute.
Allegations of Broker Misconduct Against Reuben Brown
A customer of Reuben Brown has alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation
- Misrepresentation
[LEARN MORE]: Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090)
Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer.
[LEARN MORE]: FINRA Rule 2111- suitability
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Reuben Brown, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
