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Irene Engard: Ex-PFS Broker Barred After FINRA Investigation
Irene Engard (CRD# 2300387), a financial professional formerly based in Federal Way, Washington, has been sanctioned by the Financial Industry Regulatory Authority following an investigation into her business activity outside her member firm, PFS Investments. Also known as Irene Smith, she was barred from associating with FINRA broker-dealer firms.
According to a Letter of Acceptance, Waiver, and Consent (No. 2019064765701) dated May 2020, Irene Engard was associated with PFS Investments from 1993 to December 2019 as an Investment Company and Variable Contracts Products Representative, and from 2002 to 2019 as an Investment Company and Variable Contracts Products Principal as well. The firm filed notice of her termination in December 2019. FINRA subsequently initiated an investigation into allegations concerning her involvement in an outside business activity. In connection with this investigation, FINRA sent her a request on April 22, 2020 to provide documents and information concerning the matter, as FINRA is empowered to do by FINRA Rule 8210, which states that it may require associated persons to provide information regarding matters under its investigation, and that no associated person shall fail to provide such. Engard indicated to FINRA in an April 27, 2020 email and an April 30, 2020 phone call that she had received FINRA’s request for information and documents, but that she would not produce information or documents to FINRA. According to the AWC Letter, this refusal constituted a violation of FINRA Rule 8210, which is also a violation of FINRA Rule 2010, which requires associated persons to observe high standards of commercial honor. As a result of the foregoing alleged conduct, Engard was barred from associating in any capacity with any FINRA member firm.
Irene Engard, also known as Irene Smith, is currently not registered as a broker. Her previous registrations include PFS Investments in Federal Way, Washington and PFS Investments in Duluth, Georgia. She has passed four securities industry qualifying examinations and her BrokerCheck report lists zero state securities licenses. (Information current as of May 28, 2020.)