Streamlining securities regulation
With 13 provincial and territorial security regulators, Canada has a reputation for an inconsistent and inefficient regulatory environment. In 2005, Nova Scotia signed an agreement with all other provinces and territories, except Ontario, to develop highly harmonized securities legislation across Canada. The new approach will be easier for business and provide improved protection for consumers by strengthening enforcement.
The agreement calls for "single window" access, which would allow business to access capital markets in participating provinces and territories by dealing with their principal regulator. If a business meets the requirements of the regulator in its home province, then it will be deemed to meet the other requirements.
Amendments to Nova Scotia’s securities laws in 2005 began the process to reduce the duplication and better share authority, by making it possible for the signatories to recognize and enforce one another’s decisions. Now the government is planning for further improvements.
