NOTICE: Changes to Regulation of Syndicated Mortgages in NS in Effect Today

by Mortgage Professionals Canada | Mar 01, 2021
Mortgage brokers in Nova Scotia, please be aware of these legal changes in the event any mortgage activities involving you are subject to the new securities law requirements.
 
For Nova Scotia members who engage in syndicated mortgages in any way, please note that the Nova Scotia Securities Commission has announced that changes to the regulation of syndicated mortgages in Nova Scotia are now in effect.
 
The changes are described in Staff Notice 45-718 and Blanket Order No. 45-528 from the Nova Scotia Securities Commission. You can also refer to the August 6, 2020 Canadian Securities Administrators’ (CSA) Notice of Amendments to learn more about changes to the regulation of syndicated mortgages being adopted by securities regulators across Canada.
 
It is important for all Nova Scotia members engaging in syndicated mortgages to be fully aware of the new regulations. The documents in the links above provide examples of various syndicated loan types which should help you understand if and how your activities are impacted by these regulations and/or securities law requirements.  
 
If you have any specific concerns about the above, please contact us. You may also choose to contact the NSSC at nssc.novascotia.ca.