The Nova Scotia Securities Commission announced today, May 30, an amendment to the Securities Act that will provide automatic recognition of orders by other Canadian securities commissions is now law. It became law when it was given royal assent on May 20.
The new provisions simplify the procedures of the commission to make orders issued by other Canadian securities commissions and other authorities enforceable in Nova Scotia. The change automatically gives effect in Nova Scotia to orders or settlement agreements issued by other Canadian securities commissions on or after May 20.
“The automatic recognition provision will further streamline the enforcement processes and allow us to more efficiently carry out our mission to protect investors and the integrity of Nova Scotia’s capital markets,” said Paul Radford, chair and CEO of the commission.
To view the bill: http://nslegislature.ca/legc/bills/62nd_2nd/3rd_read/b158.htm
The Nova Scotia Securities Commission is the provincial government agency responsible for regulating the investment industry in the province.