TSX Amends Requirements For Closed-End Funds, Exchange Traded Products And Structured Products

The Toronto Stock Exchange (TSX) has adopted amendments to the TSX Company Manual (Manual) concerning non-corporate issuers, effective September 17, 2015. The amendments generally codify existing practices of the TSX with respect to listing and other requirements for closed-end funds, exchange traded products (ETPs) and structured products (collectively, Non-Corporate Issuers), but certain new requirements have been added for these issuers, as discussed below. These requirements are generally consistent with current Ontario Securities Act requirements for these types of issuers.

The amendments were originally published by the TSX for public comment on January 15, 2015 (Initial Proposal). The amendments introduce a new section to the Manual (Part XI – Requirements Applicable to Non-Corporate Issuers) as, prior to these changes, the Manual was designed for corporate entities and did not address items and issues specific to Non-Corporate Issuers.