The TSX and TSX Venture Exchange have published a joint consultation paper on emerging market issuers.
The paper examines the risks associated with listings from emerging markets, and solicits feedback on potential measures that will complement existing and well-established guidelines, rules and standards at TSX and TSXV.
“Our primary objective is to maintain and enhance our strong global reputation as an operator of quality exchanges,” says Kevan Cowan, president of TSX Markets and group head of equities for TMX Group. “As emerging economies expand and global capital flows increase, issuers from these markets will continue to seek a Canadian listing to help fund growth and innovation.”
He adds, “The integrity of our markets requires all issuers, regardless of their location, to adhere to the same high standards. We’re committed to working with issuers, securities regulators and a broad group of stakeholders who share a combined responsibility to promote integrity and investor confidence in Canadian markets.”
The paper was developed with extensive input received from market participants, listed issuers, advisors, other stakeholders and regulatory organizations.
It’s intended to support work being conducted by regulatory organizations and the primary authorities overseeing reporting issuers, including the OSC issuer guide for companies operating in emerging markets (Staff Notice 51-720). It was published in November of this year.
Comments are welcome in areas such as emerging market issuer management, corporate governance, financial reporting, internal controls, related party transactions and sponsorship requirements, among others.
The comment period will close on February 28, 2013.