Submitted by nsscadmin on
How much do you know about the Nova Scotia Securities Commission and the people behind it? The Before You Invest Blog has previously published posts on the Commission, highlighting our mandate and the role of the different Commission branches. But, what about the people that make up the Commission, the ones who shoulder that mandate and tirelessly work to protect Nova Scotia investors? Our new series “Getting to know the Nova Scotia Securities Commission” takes a closer look at some of these people, what they do and how they support the Commission’s mandate. Today we’re speaking with the General Counsel, Director of Market Regulation and Policy, and Secretary of the Commission, Doug Harris.
What is your role with the Nova Scotia Securities Commission?
My role with the Nova Scotia Securities Commission is General Counsel, Director of Market Regulation and Policy, and Secretary.
How do you support the mandate of NSSC?
As General Counsel, I provide legal advice to the Commission and its members and ensure that the Commission is complying with the requirements that apply to it. As Director of Market Regulation and Policy, I work with the team that oversees registered firms and individuals that deal with clients in Nova Scotia, as well as marketplaces and self-regulatory organizations. Finally, as Secretary, I work with the Commission’s hearing panels on disciplinary hearings and decisions.
What should the public know about NSSC that they might not?
The public may not know how much investor education we provide to the public, especially given our small size and limited resources. We provide informational talks at the library, we provide talks and information to high school students, as well as university students, and also to community groups. So notwithstanding that we’re a very small organization with a team of exactly one person doing investor education, we produce an enormous amount of information to help investors educate and protect themselves.
What do you find most challenging about your role?
The thing that I find most challenging about my role with the Commission is the wide range of issues that we deal with. Again, we’re a small Commission, but we deal with the full range of the investor protection and market issues that arise. Compared to my previous role with a self-regulatory organization, where I was focused on a small portion of the industry, coming to the Commission has meant that I am now dealing with every issue that affects investors across the country.
What do you enjoy most about your role?
The thing that I enjoy most about my role with the Commission is the ability to work with the team here, all of whom are exceptionally dedicated and focused on investor protection. Most people have been in their roles for a significant length of time and have an incredible amount of experience in doing their jobs, and passion for the Commission’s mandate.
What CSA committees and groups do you work with?
Like most people at the Commission, I work with a large number of CSA committees. In my role as General Counsel, I work with committees made up of lawyers who are looking at the legal issues affecting the various securities commissions across the country. In my role as Director of Market Regulation and Policy, I deal with committees overseeing registrants, as well as marketplaces and self-regulatory organizations. And then in my role as Secretary to the Commission I deal with CSA committees that are looking at the hearing process and disciplinary decisions.
Why do you believe working with these CSA committees is important to regulation not only here in Nova Scotia, but also in Canada?
Working within the CSA is important for regulation in Nova Scotia and in Canada, because we can learn from each other. We can benefit from the specific skills and experience that each member of a committee has. We can also ensure that all jurisdictions are following best practices, both in policy development and in the administration of those policies, again, despite the wide range of sizes among the CSA members.
What recent changes or additions to securities laws have most impacted NS investors?
A recent change affecting investors in Nova Scotia and in Canada has been our regulation of crypto trading platforms. These are platforms that Canadians access to buy and sell cryptocurrencies like Bitcoin and Ether. Canada has been significantly ahead of other major jurisdictions in terms of developing a regulatory program for crypto trading platforms and for certain forms of crypto assets like stable coins. We have registered and regulated these platforms to protect investors. Now, with the change in approach in the U.S. to crypto regulation, we will be assessing our own approach, but we believe that the balance we’ve struck has provided significant investor protection, while allowing investors to access cryptocurrencies.
What do you enjoy doing with your time outside the NSSC?
Outside of my time at the Commission I enjoy being outdoors in beautiful Nova Scotia as much as possible, whether it’s walking my dogs, cycling, kayaking, motorcycling, and anything else that will get me outside and seeing the beautiful scenery we have here. I’m also very interested in photography and frequently enjoy Halifax’s wonderful live music scene.