Amendments Harmonize Securities Legislation to National Standard

The province is improving investor protection through amendments to the Securities Act introduced today, April 19.

These amendments continue efforts by the Canadian Securities Administrators to harmonize securities legislation across Canada. The province is a member of the organization.

Some of the amendments include:

• harmonized point-of-sale disclosure rules for investment funds
• harmonized exemption requirements for companies wishing to make representations concerning their stock market listings
• updated provisions related to offering memorandums
• amended insider trading provisions to enable the Nova Scotia Securities Commission to conduct a prosecution of an insider of a public company with a real and substantial connection to Nova Scotia
• stronger enforcement actions for the commission.

Some out-of-date provisions will also be updated or eliminated.

The Securities Act provides investors with protection from practices and activities that undermine investor confidence in the fairness and efficiency of capital markets and fosters the process of capital formation. This act is administered by the Nova Scotia Securities Commission.