Fresh criticism has been levelled at both men since Lord Nimmo Smith's commission into Rangers fined the oldco £250,000 for serious non-disclosure of contractual details, yet stopped short of stripping titles after concluding they gained no competitive advantage from the process.
Speaking at yesterday's International Football Association Board (IFAB) meeting in Edinburgh, Regan sought to explain the process whereby the potential docking of titles was aired in talks over the birth of the newco Ibrox club, and called for all parties to move on.
The SPL or Rangers have five working days from last Thursday to lodge an appeal on the ruling, which would be heard by the SFA.
"My inbox over the past 12 months has been full of messages on the one hand saying that Rangers have been treated too harshly and on the other hand saying they hadn't been treated harshly enough," said Regan.
"Now is a very good time for all parties to draw a line under all that has gone on in the last 12 months. Lord Nimmo Smith said that Campbell Ogilvie played no part in the management and organisation of any element of the Murray Group Remuneration Trust and that is categoric enough that Campbell wasn't involved in this to the extent people are trying to involve him.
"Yes, he was a director of the organisation, but he was a director of an organisation effectively operated by one man [David Murray]. He is the only member of the old regime who put himself forward to be interviewed by Lord Nimmo Smith and that says a lot about Campbell as a person."
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