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Consultation Paper on Emerging Market Issuers (December 2012)
Letter Summary:
As a general matter, the CAC strongly supports the efforts of TSX and TSXV to strengthen the requirements for listing for emerging market issuers as an important investor protection initiative. All issuers should be tested vigorously prior to listing and monitored closely by any exchange on which they are listed to help ensure the integrity of the Canadian capital markets. Stringent listing criteria should be applied equally to all issuers, whether those issuers are located in Canada. or abroad and whether or not an issuer can be identified as an emerging market issuer(by any definition).
Overview of the Council’s Comments:
The Canadian Advocacy Council1for Canadian CFA Institute2Societies (the CAC) appreciates the opportunity to comment on the Consultation Paper on Emerging Market Issuers (the “Consultation Paper” ) released by the Toronto Stock Exchange (“TSX”) and the TSXVenture Exchange (“TSXV”).