ASC sanctions Sherry Hagerty for making an untrue statement to ASC investigators

CALGARY, Sept. 4, 2014 /CNW/ - The Alberta Securities Commission (ASC) has sanctioned Sherry Hagerty for making an untrue statement to ASC investigators. An ASC panel ordered Hagerty to pay an administrative penalty of $20,000 and $7,500 of the investigation and hearing costs.

In handing down the sanction, the ASC panel noted: "The appropriate administrative penalty must be sufficient in quantum to serve as a stern, and memorable, reminder – to Hagerty and to others who might be inclined [to] make untrue statements to Staff investigators – that this type of misconduct comes at a cost better avoided by truthfulness."

In a June 2014 decision, an ASC panel dismissed other allegations against Hagerty and her spouse.

A copy of this decision can be found on the ASC website at www.albertasecurities.com.

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: For Media Inquiries: Mark Dickey, Senior Communications Advisor, 403.297.4481; For Investor Inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488