April 22, 2022 (Vancouver, BC) – An appearance has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) for the purpose of setting a date for the disciplinary hearing in the matter of Jeffery Rutledge.
The discipline hearing concerns allegations that Mr. Jeffery Rutledge carried out unauthorized wire transfers from the investment accounts of clients and that he failed to attend his IIROC investigatory interview.
The set date appearance is open to the public, unless the Hearing Panel orders otherwise. The date for the discipline hearing will be made available at www.iiroc.ca.
Set Date Appearance: May 26, 2022 at 10:00 a.m.
Location: Via Videoconference
Specifically, the allegations are that:
- Between August 2016 and October 2018, the Respondent, Jeffrey Scott Rutledge (Rutledge) misappropriated funds from the joint accounts of his clients RS and SS, contrary to Dealer Member Rule 29.1 (prior to September 1, 2016) and/or Consolidated Rule 1400;
- Between July 2017 and July 2018, Rutledge misappropriated funds from the account of his client SB Inc., contrary to Consolidated Rule 1400; and
- In November 2020, Rutledge failed to cooperate with IIROC Staff who were conducting an investigation, contrary to Consolidated Rule 8100.
IIROC formally initiated the investigation into Rutledge’s conduct in December 2018. The alleged violations occurred while he was a Registered Representative with the Vancouver branch of PI Financial Corp., an IIROC-regulated firm. Rutledge is no longer a registrant with an IIROC-regulated firm.
The Notice of Hearing and Statement of Allegations which sets out the allegations is available at:
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All information about disciplinary proceedings relating to current and former member firms is available in the Enforcement section of the IIROC website.
Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by IIROC-regulated firms is available free of charge through the IIROC AdvisorReport service. Information on how to make investment dealer, advisor or marketplace-related complaints is available by calling 1 877 442-4322.
IIROC investigates possible misconduct by its member firms and/or individual registrants. It can bring disciplinary proceedings which may result in penalties including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms.
IIROC is the pan-Canadian self-regulatory organization that oversees all investment dealers and their trading activity in Canada's debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian capital markets. IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of 174 Canadian investment dealer firms of varying sizes and business models, and their more than 31,000 registered employees. IIROC also sets and enforces market integrity rules regarding trading activity on Canadian debt and equity marketplaces. For more information, visit www.iiroc.ca.
Other Notices associated with this Enforcement Proceeding:
06/03/22IIROC to Hold Disciplinary Hearing for Jeffrey RutledgeType: Enforcement NoticeSubtype: Hearing
07/12/22IIROC to Hold Penalty Hearing for Jeffrey RutledgeType: Enforcement NoticeSubtype: Hearing
02/28/23New SRO Sanctions Jeffrey RutledgeType: Enforcement NoticeSubtype: Decision