TORONTO, Aug. 1, 2024
/CNW/ - The Canadian Securities Administrators (CSA) today
published a Notice and Request for Comment on proposed
amendments and changes to certain National Instruments and Policies
to address several matters, including the creation of a Senior Tier
by the Canadian Securities Exchange (CSE).
The new Senior Tier of the CSE is intended for non-venture
issuers, with requirements that align with those of a non-venture
exchange. The proposed amendments and changes revise the definition
of "venture issuer" to exclude the CSE's Senior Tier companies and
would also allow the CSE's Senior Tier issuers to be treated the
same way under securities legislation as issuers listed on other
non-venture exchanges.
The CSA Notice and Request for Comment also includes proposed
amendments and changes on the following other matters:
- Aligning certain exemptions and eligibility requirements so
that they apply to the CSE in the same manner as they do for other
similar exchanges
- Codifying blanket orders issued by CSA members to accommodate
recent "majority voting" amendments to the Canada Business
Corporations Act
- Reflecting the name change of the former Aequitas NEO Exchange
Inc. to Cboe Canada Inc.
- Reflecting the name change of the former PLUS markets to AQSE
Growth Market, and
- Removing the requirement for escrow agreements to be signed,
sealed and delivered by securityholders in the presence of a
witness.
The CSA Notice and Request for Comments can be found on CSA
members' websites. The 90-day comment period closes on October 30, 2024.
The CSA, the council of the securities regulators of
Canada's provinces and
territories, co-ordinates and harmonizes regulation for the
Canadian capital markets.
For investor inquiries, please contact your local
securities regulator.
SOURCE Canadian Securities Administrators