Thank you, Mr. Chair. I am pleased to be here today to discuss Bill 13, An Act to Amend the Securities Act. I would like to thank the Standing Committee on Social Development for their review of this bill.
The purpose of securities legislation is to facilitate the raising of capital in the private sector, while providing appropriate protections and remedies for investors. As cross-border trading has evolved over time, the regulation of securities in Canada has become a coordinated activity among all provinces and territories. When the Northwest Territories enacted securities legislation in 2008, it was in line with the coordinated system of regulation across Canada. Since that time, however, most provinces and territories have agreed that regulatory improvements are required; this bill addresses those issues.
The proposed amendments will ensure securities legislation remains harmonized across jurisdictions and will protect members of the public who are investors by streamlining enforcement procedures, making it easier for investors to enforce their rights in court and ensuring that the average investor has access to better-quality, timelier, and easier-to-understand information with which to make their investment decisions.
I would be pleased to answer any questions that the committee may have regarding Bill 13. Thank you.