TSX Venture Exchange will no longer hold disciplinary hearings, but will continue to perform listed company reviews.

In a notice, the TSXV said the B.C. Securities Commission and Alberta Securities Commission have approved the amendments to the TSX Venture rules, effective Dec. 3. The rules have been amended to set out the new process for establishing an appointing committee and listed company review panel roster, in order to carry out a listed company review.

The appointing committee will be composed of the president of the exchange, a member of the National Advisory Committee and a representative, director level or higher, of the general counsel’s Office of TSX Group Inc. (both of whom are appointed by the president of the exchange). The exchange will propose candidates for appointment to the review panel roster with legal or industry experience, or a regulatory background. They will serve three-year terms. A given review will involve three appointees from the review panel roster.

Given this new process and the fact that TSX Venture will cease holding disciplinary hearings, certain rules have been deleted.