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by Mike Caswell

Hampton Securities Ltd.'s chief executive officer, Peter Deeb, has suffered a setback in his battle against a ban handed down by the Canadian Investment Regulatory Organization, with a hearing panel refusing to stay the ban pending appeal. Mr. Deeb complains that the ban, portions of which are permanent, is not "proportional to the conduct" at issue. He says that Hampton has greatly improved its compliance in the five years since his violations.

The setback for Mr. Deeb comes as part of a case in which CIRO cited him for high-risk trades that resulted in his firm improperly obtaining access to credit. Among other things, Mr. Deeb entered short sales to obtain money to participate in new issues, according to CIRO. In doing so, he caused Hampton's carrying broker to assume the risks associated with the trading, CIRO said.

On Feb. 18, 2026, CIRO ordered Mr. Deeb to disgorge $1.22-million in gains, imposed a $500,000 fine and directed that he pay $230,000 in CIRO's costs. CIRO also permanently barred Mr. Deeb from serving as a UDP (or ultimate designated person, an executive responsible for a firm's compliance). On top of that, the regulator banned Mr. Deeb from working in a registered capacity for one year and from being an executive or supervisor for three years.

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