Enforcement Notice - Decision - 22-0043 - IIROC Imposes Sanctions on Charles-Philippe Matte

MONTRÉAL, March 24, 2022 /CNW/ - On March 23, 2022, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a settlement agreement, with sanctions, between IIROC Staff and Charles-Philippe Matte.

Mr. Matte admitted having engaged in discretionary trading in the accounts of a client, without these accounts having been previously approved and accepted as discretionary accounts.

Specifically, Mr. Matte admitted to the following:

Between March 23 and April 1, 2020, Mr. Matte engaged in discretionary trading in the accounts of a client, without these accounts having been previously approved and accepted as discretionary accounts, contrary to IIROC Dealer Member Rules 1300.4 and 1300.5.

Under the terms of the Settlement Agreement, Mr. Matte agreed to the following penalties:

(a)               A fine of $10,000;

(b)               In the event of re-registration, rewrite the Conduct and Practices Handbook examination.

Mr. Matte also agreed to costs in the amount of $2,500.

The Settlement Agreement can be found at:

MATTE, Charles-Philippe – Settlement Agreement

The Hearing Panel's decision will be made available to the public at www.iiroc.ca.

IIROC formally initiated the investigation into Mr. Matte's conduct in November 2020. The contravention occurred when Mr. Matte was a registered representative at the Toronto Branch of Desjardins Securities Inc., an IIROC-regulated firm. Mr. Matte 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 Advisor Report 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.

IROC 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.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News

Enforcement Contact:, Claudyne Bienvenu, Vice-President, Québec and Atlantic, 514-878-2854, [email protected]; Media Contact: Julia Mackenzie, Public Affairs Specialist, 416-786-1650, [email protected]