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by Mike Caswell

The Alberta Securities Commission has filed an insider trading case against Dean Labbe, a former National Bank Financial employee accused of trading ahead of 10 mergers or acquisitions. The ASC claims that Mr. Labbe learned of the transactions through his job and traded based on that information using accounts in the name of his mother. The trades "were timely insofar as each occurred before the relevant Transaction was generally disclosed," the ASC says.

The allegations are contained in a notice of hearing that the ASC released on Tuesday, Dec. 16. The notice identifies Mr. Labbe as a Calgary resident who worked at National Bank Financial from May, 2018, to June, 2024. Also named as a respondent is Mr. Labbe's mother, Calgary resident Julie Labbe.

The case, as set out in the notice, arises from 10 mergers or acquisitions in which National Bank acted as a financial adviser. Through his job, Mr. Labbe learned of the transactions before they were disclosed, the ASC claims. He worked in a group that provided services to clients involved in major transactions, the notice states.

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