The Nova Scotia Securities Commission is publishing for comment proposed new rules of practice and procedure expected to improve the transparency and consistency of treatment in the hearing process and provide for fair and efficient hearings and proceedings.

The new rules would replace the old ones made by the commission in 1988. The old rules set out the provisions for the practice and procedure in matters coming before the commission, including the review of a director’s decision, references by the director, proceedings originated by the commission and private party applications.

The NSSC has now determined that it is appropriate to repeal the old rules and replace them with a more comprehensive set of rules. The purpose of the new rules is to set out the practice and procedure for making an application, commencing a hearing or proceeding or bringing a motion before the commission, it notes.

The NSSC is publishing the rules for a 60-day comment period.