Published On: November 6, 2015

Stoltmann Law Offices is investigating Richard J. Rubin and his former firm, Northwestern Mutual Investment Services. Rubin entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). According to his AWC, Rubin was accused of engaging in real estate outside business activities, and was also accused of soliciting a customer to invest in a $15,000 real estate deal in Tampa, Florida. This is commonly referred to as “selling away” and is when a broker sells an investment that is not held or offered by his brokerage firm. It is against securities rules and regulations and is used to generate large commissions for the broker. For this, Rubin was fined $5,000 and suspended for 15 days.

Rubin was registered with Chimera Securities in New York, New York from March 2011 until November 2011, Northwestern Mutual Investment Services in Westport, Connecticut from March 2012 until September 2013 and MML Investors Services in Stamford, Connecticut from October 2013 until November 2013. He has two customer disputes against him. He is not licensed within the industry.

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