5:13 am - Monday, October 23 2017
Home / News / Amendments Protect Investors

Amendments Protect Investors


Amendments to the Securities Act introduced today, April 21, will help protect Nova Scotian investors.

The changes will allow certain enforcement orders from other provincial regulators, where there has been a finding or admission of a breach of securities laws, to apply right away in Nova Scotia.

“The capital markets operate nationally – and internationally – and government wants to protect and inform Nova Scotian investors,” said Finance and Treasury Board Minister Randy Delorey. “This legislation will give Nova Scotian investors immediate protection from people or companies that have violated securities laws in other provinces, and it will eliminate duplication of investigation and enforcement efforts.”

Each province is responsible for writing and enforcing their securities laws. When a securities violation is identified by a provincial regulator, it is investigated and an enforcement order may be issued.

The Nova Scotia Securities Commission has the authority to reciprocate orders issued by another securities regulator in Canada or by a court, however under existing law, the process can take many months, duplicate some investigation and enforcement efforts, and uses resources that could be better focused on other enforcement efforts. With these amendments, the orders issued by other provinces will automatically be in force in Nova Scotia and will enhance the ability to protect Nova Scotian investors.

Similar legislation is already in place in Alberta, and New Brunswick has introduced legislation to allow for automatic sharing.


Source: Release

About Haligonia Editors

See news happening near you? Tell us. Click here to email our team.

 

The views and opinions expressed in this content are those of the author and do not necessarily reflect those of haligonia.ca.

You might also like...

20171020_140404

(Found) Halifax District RCMP seeks assistance locating missing Eastern Passage youth

Update: Halifax District RCMP advises that 16-year-old Cheyenne Hart, who was reported missing earlier today,...

Leave a Reply

Your email address will not be published. Required fields are marked *