Reuben Brown: FINRA Bars Ex-Edward Jones Advisor

Former Southlake, Texas financial advisor Reuben Brown (CRD# 7089559) was recently sanctioned in connection with allegations that he sold investments away from his member firm. Financial Industry Regulatory Authority records show that the former Edward Jones representative has been barred from registering with any FINRA member firm.

A Letter of Acceptance, Waiver, and Consent (No. 2022076164001) published on March 4, 2024 describes FINRA’s action against Mr. Brown. According to the Letter, he refused to appear for requested on-the-record testimony in connection with FINRA’s investigation into the circumstances underlying his termination from his former member firm. As it explains, FINRA rules allow the regulator to require such testimony from persons under its jurisdiction, and prohibit such persons from failing to provide requested testimony. FINRA sent the request on February 16, 2024, and Mr. Brown notified the regulator that he would not appear or testimony via counsel that same day. FINRA found that his refusal violated FINRA Rules 8210 and 2010. As such, it barred him from associating with any FINRA member in any capacity.

Mr. Brown’s BrokerCheck report discloses one investor complaint. Filed in July 2023, it alleges that as a representative of Edward Jones, he “suggested an investment opportunity outside the firm with zero risk and zero tax,” which returned no funds within almost a year, in addition to incurring a tax liability. The pending complaint alleges damages of $180,000.

Another disclosure on his BrokerCheck report concerns his termination from Edward Jones. Filed in August 2022, it states that the firm fired him in connection with allegations that he introduced clients to an investment outside the Firm, in violation of FINRA Rule 3280 and the Firm’s policies regarding ‘Private Securities Transactions’ and ‘Selling Away.’”

According to the Financial Industry Regulatory Authority, Reuben Brown holds three years of securities industry experience. Last based in Southlake, Texas, he was registered as a broker with Edward Jones from 2019 until 2022. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7TO; and the Uniform Combined State Law Examination, or Series 66. He is not currently registered as a broker or an investment advisor. (Information current as of March 5, 2024.)

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