Former investment bank employee and his mother pay $330,000 in insider trading settlement

CALGARY, AB, Nov. 5, 2026 /CNW/ -- The Alberta Securities Commission (ASC) has concluded a Settlement Agreement and Undertaking with Calgary residents Dean Labbe and his mother, Julie Labbe, for breaching Alberta securities laws through a multi-year insider trading scheme. Dean Labbe repeatedly used confidential information from his work at an investment bank to trade securities and recommend trades through accounts held in his mother's name.

Dean Labbe was employed at an investment bank between May 2018 and June 2024. He worked on mergers, acquisitions and other potential transactions for the bank's clients and regularly obtained confidential information about reporting issuers and proposed transactions.

Between December 2018 and March 2024, Dean Labbe purchased securities, or recommended to his mother that she purchase securities, in 10 Canadian issuers involved in transactions on which he or his colleagues were working. The purchases were made while Dean Labbe was in possession of material, non-public information about the issuers.

The trading activity generated profits of approximately $130,000. Seven of the 10 transactions involved acquisitions, and in each instance, securities of the target issuer were purchased before the acquisition was announced.

Dean Labbe used brokerage accounts held in his mother's name rather than accounts in his own name and did not disclose the trading activity to his employer. Julie Labbe knew that Dean Labbe was using confidential information obtained through his employment to select or recommend securities, and permitted the use of her accounts. She also knew that the accounts were being used to conceal the purchases from his employer.

Dean Labbe admitted that he engaged in illegal insider trading and illegally recommended or encouraged Julie Labbe to purchase securities. Julie Labbe admitted that she authorized, permitted or acquiesced in Dean Labbe's insider trading by maintaining accounts for his use with knowledge of his conduct.

Under the terms of the Settlement Agreement and Undertaking:

• Dean Labbe is prohibited from trading in or purchasing securities or derivatives for 20 years, subject to limited exceptions;
• Julie Labbe is prohibited from trading in or purchasing securities or derivatives for 10 years, subject to limited exceptions; and
• The Labbes paid a monetary settlement of $330,000 to the ASC, inclusive of costs.

"Dean Labbe was entrusted through his employment with highly confidential information about corporate transactions, and he repeatedly exploited that trust for personal gain," said Cynthia Campbell, Director of Enforcement at the ASC. "The 20-year trading ban reflects the need to protect Alberta investors and our capital markets from individuals who misuse material, non-public information. Fair and efficient markets depend on investor confidence that no one is trading with an unfair informational advantage."

The Settlement Agreement and Undertaking resolves the matters alleged in a Notice of Hearing issued October 15, 2025. As a result, the hearing into these allegations scheduled to begin December 1, 2026, will not proceed.

A copy of the Settlement Agreement and Undertaking is available on the ASC website at asc.ca.

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

SOURCE Alberta Securities Commission

For further information, please contact: For Media inquiries: Tanja McMorris, Senior Advisor, Communications, [email protected]; For Investor inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488, [email protected]