Effective May 20, 2016, the Government of Nova Scotia brought into force amendments to the Securities Act (Nova Scotia), including the creation of section 134B. As a result, commencing on May 20, 2016, when another securities regulatory authority in Canada issues an order or enters into an agreement imposing sanctions, conditions, restrictions or requirements on a person or company based on a finding or admission of a contravention of securities or derivatives laws or conduct contrary to the public interest, that order or settlement agreement will automatically apply in Nova Scotia as if it were made by the Nova Scotia Securities Commission, with only such modifications as the circumstances require. The Nova Scotia Securities Commission will not issue a separate order or variation, amendment or revocation of an order in these circumstances. If the order or agreement is varied, amended or revoked by the originating securities regulatory authority in Canada, the variation, amendment or revocation will also apply in Nova Scotia.
As a result, orders or settlements made in other jurisdictions in Canada may have automatic effect in Nova Scotia, without further notice. If you or another party with whom you intend to engage in securities related activities are the subject of an order or settlement agreement in another jurisdiction in Canada, you should contact the Nova Scotia Securities Commission to confirm if the restrictions apply in Nova Scotia.