The Toronto Stock Exchange is now allowing issuers to use “generic” stock certificates.

The Security Transfer Association of Canada has developed “generic” certificate requirements in Canada. STAC has confirmed that they are satisfied with the security features of generic certificates. Generic certificates have also been endorsed by various issuer associations and the Legal and Regulatory Working Group of the Canadian Capital Markets Association.

Effective immediately, the TSX will allow issuers to use generic certificates that are in compliance with STAC requirements. Issuers must provide TSX a specimen certificate with a letter from the issuing transfer agent confirming that the generic certificate is in compliance with STAC Requirements.

Generic certificates will now provide issuers with an alternative to traditional customized bank note certificates.