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ARTICLE · 27 DECEMBER 2012

TSX Consultation Paper On Emerging Market Issuers

Blake, Cassels & Graydon LLP
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On December 17, 2012, the Toronto Stock Exchange (the TSX) and TSX Venture Exchange (TSXV, and together with the TSX, the Exchanges) published a joint Consultation Paper on Emerging Market Issuers (the Consultation Paper).

CanadaFinance and Banking
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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Highlights

  • Exchanges currently reviewing respective listing requirements applicable to issuers with a significant connection to an emerging market jurisdiction
  • Current guidance includes: pre-filing conferences, likelihood of a sponsorship requirement and possibility of supplemental ongoing requirements to mitigate risks
  • Comment period continues to February 28, 2013

On December 17, 2012, the Toronto Stock Exchange (the TSX) and TSX Venture Exchange (TSXV, and together with the TSX, the Exchanges) published a joint Consultation Paper on Emerging Market Issuers (the Consultation Paper). The Consultation Paper discusses the potential risks associated with listing issuers with a significant connection to an emerging market jurisdiction, "Emerging Market Issuers" (EMIs) identified by the Exchanges. The Consultation Paper also provides preliminary guidance to issuers and their advisers with respect to listing considerations applicable to EMIs and solicits

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