Since we last reported on this topic, Newfoundland and Labrador, British Columbia, Prince Edward Island and Yukon have joined Ontario, Alberta, Manitoba, New Brunswick, Nova Scotia, Québec and Saskatchewan in bringing into force legislation providing for secondary market civil liability. The two remaining jurisdictions, the Northwest Territories and Nunavut, have also moved their legislation forward. In each case, the legislation is modelled on the Ontario legislation, even when the provisions are included in a new uniform securities act — which is the case in Prince Edward Island, Yukon, the Northwest Territories and Nunavut.
In the Northwest Territories, Bill 7 was given royal assent on June 19, 2008 and in Nunavut, Bill 26 was given royal assent on June 4, 2008, but neither act has yet been proclaimed in force.
The following is a summary of the status of implementation of the civil liability regime throughout Canada: