The Nova Scotia Securities Commission (NSSC) announced on Thursday that amendments to Nova Scotia’s securities laws have been adopted to promote more harmonized securities legislation in Canada.
The changes, which were first tabled in November 2015, received Royal Asset on Dec. 18, 2015.
See: Amendments harmonize N.S. securities legislation to national standard
The changes include measures to expand and clarify the types of freeze orders that the NSSC can make. They also expand the scope of compliance examinations to include exempt market issuers and derivatives market participants. It extends the commission’s authority to conduct continuous disclosure reviews to include non-reporting issuers.
The revisions also allow the commission to suspend the running of the limitation period in legal actions for misrepresentation, under certain conditions. As well, they expand the commission’s rule-making authority to support the proposed expansion of the passport system; among other things.