Settlement Agreement Approved for Gregory Matthew Duncan

The Nova Scotia Securities Commission has approved a settlement agreement with former Keybase branch manager, Gregory Matthew Duncan.

Mr. Duncan violated Nova Scotia securities laws by failing to properly and adequately supervise the trading activities of employee John Alexander Allen. Mr. Duncan failed to conduct sufficient inquiries into Mr. Allen's new account applications submissions to ensure the information recorded was correct and consistent.

Mr. Duncan accepted responsibility for his conduct and was co-operative with commission staff. The commission approved the settlement agreement and ordered that Mr. Duncan:

• be prohibited from becoming registered as an ultimate designated person, as a chief compliance officer, or in any supervisory capacity for a period of five years
• pay an administrative penalty of $10,000
• pay costs in connection with the commission investigation and proceedings of $1,000.

The Nova Scotia Securities Commission is the provincial government agency responsible for regulating trading in securities in the province. To view the order visit http://www.gov.ns.ca/nssc/docs/DuncanOrderNov_23_2012.pdf