Sanctions Issued Against Timothy Adams, Lowell Weir, Carol McLaughlin-Weir

The Nova Scotia Securities Commission has issued sanctions against Timothy Adams, Lowell Weir and Carol McLaughlin-Weir in relation to their trading in securities of The Helical Corporation.

The commission's decision from March 23 found the respondents violated Nova Scotia securities laws by failing to disclose their status and file reports of trade as insiders of Helical in violation of Nova Scotia securities laws. The commission determined the respondents to be insiders based on the positions they held in Helical.

The commission noted the respondents expressed no recognition of their requirements to file as an insider and disclose their Helical trades and that there are no mitigating factors.

"Insiders, for the fairness and integrity of capital markets, must declare and report and, in any event, it is the law that they do so. To simply slap a wrist in the face of the respondents' defiance would defeat the goals of securities regulation", said the commission panel.

The panel ordered the respondents to comply with Nova Scotia securities laws and pay administrative penalties of $20,000 by Mr. Weir, $8,000 by Ms. McLaughlin-Weir and $5,000 by Mr. Adams. They have also been ordered to pay costs in connection with the commission proceedings. Mr. Weir has been ordered to pay $11,160, Ms. McLaughlin-Weir, $4,650 and Mr. Adams, $2,790.

The Nova Scotia Securities Commission is the provincial government agency responsible for regulating trading in securities in the province. To view the decision, visit www.gov.ns.ca/nssc/docs/AdamsWeirNov_20_2012.pdf .