Changes Proposed for Securities Legislation

N.S. SECURITIES COMMISSION--Changes Proposed for Securities Legislation

Changes to the Securities Act introduced today, Nov. 5, would provide better financial protection for Nova Scotia's venture capital investors. Environment and Labour Minister David Morse introduced the amendments on behalf of the Securities Commission.

The amendments to the Nova Scotia Securities Act define the term "unfair practices" and put more responsibility on businesses to properly disclose and represent their corporate information.

"By putting better safeguards in place, these improvements will give investors greater confidence in their investments, which could lead to even more investment activity," said Mr. Morse. "It is a small but important step towards building a richer and more self-sufficient provincial economy."

The new act is similar to legislation already in place in British Columbia.