The Toronto Stock Exchange has issued a request for comment on a series of rule changes.
The proposed changes deal with non-exempt issuers, changes in the structure of issuers’ capital, and delisting procedures.
The TSX says that the amendments are intended to provide transparency to its current standards and practices in these areas, “allowing issuers and investors, and their respective advisors, to have certainty when planning and completing transactions. The TSX believes that this will result in more efficient, cost effective access to Canadian capital markets.”
The amendments have been approved by the TSX board, but won’t take effect until it receives approval from the Ontario Securities Commission following public notice and comment. Comments are due by October 2. It notes that due to the scope of the amendments, it has established a 60 day comment period rather than the usual 30 day period.