The Globe and Mail reports in its Wednesday edition that Emerge Canada chief executive officer Lisa Langley says she intends to repay $4.7-million that remains owing to investors after she settles two court cases in the United States. The Globe's Clare O'Hara writes that at an enforcement hearing on Tuesday, Ms. Langley told the Capital Markets Tribunal, an independent adjudicative arm of the Ontario Securities Commission, that she did not set up a "prohibited loan" worth millions of dollars from a group of Emerge exchange-traded funds her company managed. She acknowledged the money was moved, but said the transfer was approved by the firm's auditors and legal counsel. "If I had believed that there was an existing rule and we were knowingly, willingly breaking that rule, we wouldn't have done it," Ms. Langley said. "Why would we do something like that? It goes against the grain of everything we all stand for in capital markets." The OSC has accused Ms. Langley and Emerge of improperly borrowing $5.5-million from Emerge ETFs to cover management costs. OSC litigator Khrystina McMillan told the hearing money transferred out of the ETFs had been "co-mingled" with money used to pay, in part, Ms. Langley's personal expenses.