Dawn Russell Appointed to Federal Securities Committee

Nova Scotia law professor Dawn Russell has been appointed to represent the province on a federal advisory committee on securities regulation, Finance Minister Graham Steele announced today, Oct. 15.

"The government is committed to improving securities regulation to protect Nova Scotia investors and ensure businesses have better access to essential capital financing," Mr. Steele said.

James Flaherty, federal Minister of Finance, appointed Ms. Russell today as one of 10 participants from seven provinces and three territories on the Advisory Committee of Participating Provinces and Territories to the Canadian Securities Transition Office.

Committee members will provide advice to the securities transition office and represent provincial interests in an effort by the government of Canada to establish a national body for securities regulation.

Ms. Russell is an associate professor and a former dean at Dalhousie Law School. She is well versed in securities issues and has participated in previous national panels on securities regulation.

"Given her extensive experience in this field, Professor Russell is highly qualified to act as Nova Scotia's representative to this committee," Mr. Steele said.

Nova Scotia has worked with provincial and territorial counterparts in recent years to implement a passport system which has helped to harmonize securities regulation across Canada.

While the province has agreed to contribute to the new federal initiative, Nova Scotia's full participation in a federal securities regime is conditional on a number of factors.

Mr. Steele said Nova Scotia will require a continued securities regulatory presence in the province, ongoing support for local capital investment programs, continued recognition of provincial jurisdiction over securities regulation, productive working relationships with non-participating jurisdictions, and financial compensation for provincial revenue losses.