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ARTICLE · 26 OCTOBER 2018

Nova Scotia Bill 67 – IIROC Expands Its Enforcement Authority

These three sets of powers are known as IIROC's full enforcement toolkit.

CanadaCorporate/Commercial Law

On October 12, 2018, Bill 67 was proclaimed into force in Nova Scotia. Bill 67 expands the enforcement powers of the Investment Industry Regulatory Organization of Canada (IIROC) in Nova Scotia in the interest of strengthening investor protection, with a focus on safeguarding the financial interests of seniors and vulnerable retail investors.

Bill 67 amends the Nova Scotia Securities Act to give IIROC broad investigatory and enforcement powers, including the ability to collect fines through the courts in Nova Scotia against wrongdoers found guilty of misconduct, the authority to collect and present evidence during investigations and at disciplinary hearings, and immunity from civil suits while it carries out its mandate in good faith. These three sets of powers are known as IIROC's full enforcement toolkit.

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