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Toronto Stock Exchange Amends Rules For Listed Issuers


Area Corporate Finance and Securities


The Ontario Securities Commission has recently approved amendments proposed by the Toronto Stock Exchange (the "TSX") to its Company Manual (the "Manual") that will become effective on January 1, 2005.

The amendments include significant changes to TSX policies for listed issuers with respect to:

  • prospectus offerings,
  • private placements,
  • security based compensation arrangements, and
  • special requirements for non-exempt (junior) issuers. 

The stated purpose of the amendments is to provide listed issuers with a complete and transparent set of standards and practices to allow issuers and investors to have certainty when planning and completing transactions.

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