Compliance
The NSSC's Compliance Examiners conduct reviews of market participants to determine the state of compliance with Nova Scotia securities laws. The reviews may cover specific areas of concern or alternatively, they may encompass a thorough review of all compliance operating functions of the firm. An effective compliance function will ensure that market participants are meeting their duties and obligations under Nova Scotia securities law. The compliance officer of any firm must have the right knowledge and experience, be independent and have adequate authority to effectively carry out compliance duties.
The length of an examination depends on the size of the firm, the number of locations visited, the number of specific area's examined, availability of records and additional compliance information obtained. An examination may require the examiner to be on site anywhere from one day to one week or longer. Examinations may be carried out on an announced or unannounced basis.
After the fieldwork is complete the examiner will analyze the firm's compliance function and will prepare a report on those findings, which will be sent to the firm for comments and remedial action as required.
Questions may be directed to:
R. Scott Peacock
Deputy Director, Compliance & Enforcement
Nova Scotia Securities Commission
2nd Floor, 1690 Hollis Street
PO Box 458
Halifax N.S., B3J 2P8
Tel: (902) 424-6179
Fax: (902) 424-3538
peacocrs@gov.ns.ca