Decision in brief: Rustulka, Inter-Jurisdictional Enforcement Proceeding, Sanctions, October 27, 2023
Kenton Roy Rustulka was registered to sell securities in Alberta. The Alberta Securities Commission decided that he did not follow the rule that he only recommend securities to his clients that are appropriate for them. He also told his clients false information about securities he recommended they buy. The Alberta Securities Commission decided that Rustulka should be permanently restricted from participating in Alberta’s capital markets and that he should pay an administrative penalty.
OSC staff asked that Rustulka be restricted from participating in Ontario’s capital markets based on the Alberta Securities Commission’s decision. Rustulka did not participate in the hearing.
The Tribunal decided to permanently restrict Rustulka from participating in Ontario’s capital markets. His conduct, had it taken place in Ontario, would have breached Ontario securities law and justifies permanent restrictions.