Amendments to Nova Scotia Securities Act

Better regulation for securities and credit rating organizations means a more secure financial system to benefit all Nova Scotians.

Amendments introduced today, Nov. 1, will ensure the Nova Scotia Securities Act reflect the requirements of International Financial Reporting Standards being adopted by Canada.

It will also establish a legislative framework for the regulation of credit rating organizations that will be consistent with other provinces and territories and the international community.

"There is a continuing need to harmonize, streamline and modernize the Nova Scotia Securities Act to ensure consistency with national and international standards," said Graham Steele, Minister of Finance.

Changes to the act will ensure financial reporting requirements are consistent with Canadian Accounting Standards Board requirements to adopt International Financial Reporting Standards by Jan. 1.

The amendments will also provide a framework to regulate credit rating organizations which is being enacted in all provinces and territories.

To learn more about amendments to the Nova Scotia Securities Act, please visit www.gov.ns.ca/finance .