The Ontario Securities Commission has approved a memorandum of understanding with Quebec’s Autorité des marches financiers, which sets out how they will cooperate to oversee TMX Group Inc.

The MOU sets out a process for coordination between the OSC and the AMF in the event that someone proposes to own more than 10% of TMX Group. It also provides for information sharing relating to the oversight of TMX Group Inc., TSX Inc. and Bourse de Montréal Inc.

“Both regulators recognize that this letter has the sole purpose of acknowledging the common intent to cooperate and to assist each other in a timely and co-ordinated response between the OSC and the AMF with regard to an application to own more than 10% of TMX Group and to share information,” it says.

The MOU, which is subject to the approval of the Minister of Finance in Ontario, was sent to the minister on October 8.

IE