Public records published by the Financial Industry Regulatory Authority (FINRA) on July 5, 2016 indicate that Michigan-based LM Kohn & Company broker/adviser David Rubenstein was recently discharged from Wells Fargo Advisors. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Rubenstein (CRD# 2514293).
David Rubenstein has spent four years in the securities industry and has been registered with LM Kohn & Company in Troy, Michigan since May 2016. Previous registrations include Wells Fargo Advisors in Farmington Hills, Michigan (2015-2016); Ameriprise Financial Services in Farmington Hills, Michigan (2009-2015); Ameriprise Advisor Services in West Bloomfield, Michigan (2002-2009); UBS PaineWebber in Weehawken, New Jersey (2000-2002); and Prudential Securities in New York, New York (1995-2000). He is a registered broker and investment adviser with four US states: Michigan, Mississippi, New York, and Wisconsin.
According to his BrokerCheck report, David Rubenstein was recently terminated from Wells Fargo Advisors and is the subject of one financial disclosure.
In April 2016, David Rubenstein was discharged from his position at Wells Fargo Advisors following “discussions… relating to a review conducted at his prior employer.”
In July 2015, David Rubenstein was “permitted to resign” from Ameriprise Financial Services “while under review for violation of company policy related to unauthorized use of discretion.”
In 2013, David Rubenstein paid $800 to settle a debt of $1,200 with OneMain Financial.
According to FINRA rules and federal securities law, financial professionals like David Rubenstein are prohibited from executing transactions without a customer’s permission or authorization. There are certain exceptions, including discretionary accounts and, in some circumstances, margin accounts. Brokers, investment advisers, and broker-dealer firms who effect unauthorized trades may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you or someone you know has lost money investing with David Rubenstein, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.