In 1952 the Securities Act was amended and a Registrar appointed to act as securities regulator. In 1984 responsibility for securities regulation was given to the Public Utilities Board (now Utility and Review Board). In 1987 the new Securities Act was amended before proclamation and the Nova Scotia Securities Commission established to regulate the securities industry; the post of Registrar was discontinued. The commission's principal task is to protect against fraud Nova Scotia resident investors active in the Nova Scotia securities market. The commission functions as both a regulatory agency and an administrative tribunal, exercising quasi-judicial and public inquiry powers. The commission provides investor protection through the enactment of rules and regulations requiring proper disclosure of information to investors and adherence to fair market practices by broker-dealers, investment counsellors and issuers, promoters and underwriters of securities.
Notes: Authority record based on Statutes of Nova Scotia: 1952 c. 66; 1984 c. 11, 1987 c. 52, 1990 c. 15, 1996 c. 32, 2006 c. 46.
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