Today Community Services Minister John Streicker introduced Bill 32, Amendments to the Securities Act, to ensure Yukon’s securities investment community continues benefiting from the same strong regulations and protections that exist everywhere else in Canada.
The amendments provide the investment community with stronger regulation and pause limitation periods for civil actions regarding alleged misrepresentations until related court processes are completed.
The amendments also:
- ensure investors receive needed information about investment products;
- provide reciprocity so that regulator issued orders in one jurisdiction automatically apply in Yukon;
- protect local investors by allowing an order to be issued in Yukon against a person based on sanctions imposed against them in another jurisdiction; and
- enable the designation of national financial benchmarks that will apply in Yukon and all Canadian jurisdictions.
These proposed amendments to our Securities Act will help to ensure that Yukon’s investment community benefit from the same strong regulatory regime and protections as their counterparts elsewhere across the country. With this updated legislation, the Yukon would continue to be a secure and modern place in which to do business.
Minister of Community Services John Streicker
The Government of Yukon informed members of Yukon’s securities investment community about the proposed changes earlier this year and invited comments. The community members were already familiar with the proposed amendments and the government did not receive any responses.
All provinces and territories are members of the Canadian Securities Administrators.
The Canadian Securities Administrators objective is to provide all securities stakeholders with a consistent approach to regulation, including fair and efficient capital markets and protection from unfair, improper or fraudulent practices.