CIRO to Hold Disciplinary Hearing for Stephen Patrick Laporte

TORONTO, Dec. 28, 2023 /CNW/ - An initial appearance has been scheduled before a hearing panel of the Canadian Investment Regulatory Organization (CIRO) under the Mutual Fund Dealer Rules to set a date for a disciplinary hearing in the matter of Stephen Patrick Laporte.

The initial appearance is open to the public unless the hearing panel orders otherwise. The date for the disciplinary hearing will be made available at www.mfda.ca.

Initial Appearance: February 1, 2024 at 10:00 a.m. (Eastern Time)

Location: Toronto (Ontario), by videoconference

Members of the public who would like to obtain further particulars should fill out this questionnaire.

The hearing concerns allegations that Stephen Patrick Laporte:

1. 1. 1. between February 26, 2016 and June 8, 2021, the Respondent failed to record and maintain adequate evidence of client trade instructions with respect to transactions that the Respondent processed pursuant to Limited Trade Authorizations, contrary to the Dealer Member's Policies and Procedures and Mutual Fund Dealer Rules 2.1.1, 5.1(b), 1.1.2 (as it relates to Rule 2.5.1). (formerly MFDA Rule 2.1.1, 5.1(b), 1.1.2, and 2.5.1);
         
         
      2. between April 7, 2015 and February 26, 2020, the Respondent altered, and used to process transactions, 44 account forms in respect of 33 clients by altering information on the account forms without having the clients initial the alterations, contrary to Mutual Fund Dealer Rule 2.1.1 (formerly MFDA Rule 2.1.1); and
         
         
      3. between February 13, 2018 and October 28, 2019, the Respondent obtained, possessed and used to process transactions, two pre-signed account forms in respect of two clients, contrary to Mutual Fund Dealer Rule 2.1.1 (formerly MFDA Rule 2.1.1).  

The Notice of Hearing and Statement of Allegations which sets out the allegations is available at:

Laporte, Stephen Patrick – Notice of Hearing and Statement of Allegations

At all material times, the Respondent conducted business in the Ottawa, Ontario area. 

All information about disciplinary proceedings relating to current and former member firms and individual registrants under the Mutual Fund Dealer Rules is available on CIRO's website.

CIRO investigates possible misconduct by its member firms and individual registrants. It can bring disciplinary proceedings which may result in sanctions including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms.

The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada's debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians' trust in financial regulation and the people managing their investments. For more information, visit www.ciro.ca.

SOURCE Canadian Investment Regulatory Organization (CIRO)

Joanna Nicholson Manager, Public Affairs, 416-943-4640, [email protected]