The Nova Scotia Securities Commission (NSSC) on Monday announced an amendment to the Securities Act that will provide automatic recognition of orders by other Canadian securities commissions is now law.
The amendment became law when it was given royal assent on May 20.
The new provisions simplify the procedures of the commission to make orders issued by other Canadian securities commissions and other authorities enforceable in Nova Scotia, the NSSC says in a statement.
The change automatically gives effect in Nova Scotia to orders or settlement agreements issued by other Canadian securities commissions on or after May 20.
“The automatic recognition provision will further streamline the enforcement processes and allow us to more efficiently carry out our mission to protect investors and the integrity of Nova Scotia’s capital markets,” says Paul Radford, chairman and CEO of the NSSC.