What is the NSSC? – Corporate Finance

Corporate Finance oversees entities raising capital through the sale of securities in Nova Scotia. These entities include: publicly traded issuers and private issuers.  Private issuers are subject to securities regulation but may be able to use exemptions from securities laws. Information about the exemptions to raise capital can be found here.

Some issuers have specific disclosure requirements. Corporate finance monitors these ongoing disclosures to ensure issuers are providing the required documents and information on time. The ongoing disclosure documents includes but is not limited to: financial statements, management discussion and analysis, and material change reports.

If an issuer is not meeting their disclosure requirement corporate finance can take action against them which could include issuing a cease trade order until the disclosure requirements are met.

Corporate finance also reviews prospectuses filed with the NSSC. A prospectus is a long legal document that must be filed before an issuer can legally sell securities. Corporate finance reviews a prospectus for disclosure requirements before issuing a receipt which allows securities to be sold.

Corporate finance also oversees a portion of the Community Economic-Development Investment Fund (CEDIF) program. This includes reviewing offering documents for prospective CEDIFs and reviewing their continuous disclosure documents. Like a prospectus, a CEDIF cannot sell securities until it has received a letter non-objecting to the sale of its securities.