Nova Scotia is improving investor protection through amendments to the Securities Act introduced Thursday.
The various amendments are meant ensure the province’s securities legislation remains modern, up-to-date, and harmonized with other Canadian jurisdictions.
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; and
> stronger enforcement actions for the commission.
Some out-of-date provisions will also be updated or eliminated.