rubicon8-k_gbi.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington
D.C. 20549
Form
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported) March 6,
2009
RUBICON
FINANCIAL INCORPORATED
(Exact
name of registrant as specified in its charter)
|
Delaware
|
000-29315
|
13-3349556
|
|
(State
or other jurisdiction of incorporation)
|
(Commission
File Number)
|
(IRS
Employer Identification No.)
|
|
4100
Newport Place, Suite 600
Newport
Beach, California
|
92660
|
|
(Address
of Principal Executive Offices)
|
(Zip
Code)
|
Registrant’s
telephone number, including area code: (949)
798-7220
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
|
¨
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|
|
¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
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¨
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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¨
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
8.01 Other Events
On
March 6, 2009, the SEC issued an Order Instituting Administrative Proceedings
Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making
Findings, and Imposing Remedial Sanctions as to Grant Bettingen, Inc. (GBI
Order), our broker-dealer subsidiary; and an Order Instituting Administrative
Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934,
Making Findings, and Imposing Remedial Sanctions as to M. Grant Bettingen
(Bettingen Order), the chairman and Managing Director of Investment
Banking GBI.
The
GBI Order finds that GBI, failed reasonably to supervise a broker in connection
with purported private placement offerings of the securities of two limited
liability companies from January 2004 through December 2005.
The
Bettingen Order finds that M. Grant Bettingen failed reasonably to supervise the
broker because he did not have a supervisory policy in place at GBI regarding
the sale of securities in private placement offerings until November
2004.
The
GBI Order censures GBI and requires GBI to pay disgorgement of $88,675 and
prejudgment interest of $8,460.51. GBI consented to the issuance of the GBI
Order without admitting or denying any of the findings in the GBI Order. The
Bettingen Order requires Bettingen to pay a $35,000 civil penalty. The Order
also bars Bettingen from associating in a supervisory capacity with any broker
or dealer with a right to reapply after three years. Bettingen consented to the
issuance of the Bettingen Order without admitting or denying any of the findings
in the Bettingen Order.
Pursuant
to the terms of the Bettingen Order, Mr. Bettingen will not act in a supervisory
capacity at GBI.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Rubicon
Financial Incorporated
By:
/s/ Joseph Mangiapane,
Jr.
Joseph
Mangiapane, Jr., Chief Executive Officer
Date:
March 16, 2009