July 12, 2022 (Vancouver, British Columbia) – A penalty hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Jeffrey Rutledge.
The Hearing Panel will consider the penalty to be imposed as a result of their oral decision dated June 22, 2022, which found that Rutledge acted contrary to Dealer Member Rule 29.1 (prior to September 1, 2016), Consolidated Rules 1400 and 8100. Rutledge was found to have misappropriated funds from client accounts and failed to cooperate with IIROC Staff who were conducting an investigation. The penalty hearing is open to the public, unless the Hearing Panel orders otherwise. Members of the public who would like to attend the hearing should contact IIROC’s National Hearing Coordinator at [email protected] to obtain the details. The decision of the Hearing Panel will be made available at a later date at www.iiroc.ca.
Hearing Date: The hearing will be held by way of videoconference on October 28, 2022 at 10:00 a.m. PT
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.
* * *
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.