Did the Exchange err in finding that the nature of Nichols’ prior convictions demonstrated a history of dishonesty?
38 The second ground for the Exchange’s decision was that the nature of Nichols’ prior convictions demonstrated a history of dishonesty that was a sufficient basis for the Exchange to prohibit him from performing investor relations activities. 39 Nichols argues that his convictions were for violent crimes not involving fraud or deceit and that the Exchange erred in concluding that they demonstrated a history of dishonesty. Also, he argues that the Exchange did not consider that the crimes took place 30 years prior to the application. 40 Nichols further argues that, in concluding that he was unsuitable to perform investor relations activities, the Exchange failed to consider material evidence, namely his release under the ‘faint hope’ clause, the opinion of his parole officer that he is suitable, the passage of time and evidence of rehabilitation since his conviction, and the past work he has done for listed companies with no problems. 41 In effect, the Exchange took the nature of Nicho
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