Sherry Hagerty found to have made untrue statement to ASC investigators
CALGARY, June 20, 2014 /CNW/ - The Alberta Securities Commission (ASC)
has dismissed allegations of illegal insider trading against Sherry
Hagerty and Gary Hagerty.
An ASC panel did find that Sherry Hagerty made an untrue statement to
ASC investigators, contrary to Alberta securities laws and the public
interest. The ASC panel ruled: "Whenever Staff's oversight function
is impeded by the provision of untrue statements to the ASC, the public
interest is put at risk."
The ASC panel dismissed all other allegations of making untrue
statements to ASC investigators and of conduct contrary to the public
interest against Sherry Hagerty and Gary Hagerty.
The ASC panel tentatively set a session on July 2, 2014 for the purpose
of scheduling a timetable for the delivery and hearing of evidence and
submissions on what, if any, orders for sanctions and costs ought to be
made against Sherry Hagerty.
A copy of the 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 to foster a fair and
efficient capital market in Alberta and to protect investors. As a
member of the Canadian Securities Administrators, the ASC works to
improve, coordinate and harmonize the regulation of Canada's capital
SOURCE: Alberta Securities Commission
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