The Nova Scotia government on Friday introduced amendments to the Securities Act, which aim to improve investor protection.
The changes promote harmonized securities legislation in Canada, something supported by the province as a member of the Canadian Securities Administrators.
> enabling implementation of stage three of the harmonized point-of-sale disclosure requirements for investment funds, which will require a fact sheet be made available for the sale of Exchange Traded Funds;
> enabling the expansion of the passport filing system used across Canada, reducing the regulatory burden on market participants
> ensuring investors involved in legal proceedings are not unfairly impacted by the limitation of action provision; and
> improving investor protection by expanding the number of tools available to the Nova Scotia Securities Commission to conduct compliance and enforcement activities
Some out-of-date provisions will also be updated or eliminated.