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News Release

Western Securities Commissions Seek Public Input on TSE Acquisition of CDNX

  • Date:

    2001-05-18

  • Number:

    2001/18

Released: 05/18/01 Contact: Andrew Poon
NR 01-18 (604) 899-6880 or
(BC only) 1-800-373-6393


Vancouver -- The British Columbia and Alberta securities commissions have published Notices today advising that they will be canvassing the views of the public on the proposed acquisition of the Canadian Venture Exchange by The Toronto Stock Exchange. The proposed transaction is subject to the approval of both securities commissions.

“We want to hear from stakeholders and market participants. We want to know what the industry thinks of the deal and what issues it raises for them,” says Stephen Sibold, Chair of the Alberta Securities Commission.

“We will be reviewing the proposed acquisition of CDNX to satisfy ourselves that the transaction is not prejudicial to the public interest,” said Doug Hyndman, Chair of the B.C. Securities Commission.

Today, the Commissions published CDNX’s application for approval of the transaction, including details of the proposed new operations of CDNX, the proposed location of services and the intended board of directors.

The Commissions have also published a Notice asking market participants to comment specifically, in writing, on certain aspects of the proposed transaction. The public comment will expire June 8, 2001.

The Notice and accompanying documents can be viewed on the websites of either the BCSC andlt;andlt;www.bcsc.bc.caandgt;andgt; or ASC andlt;andlt;www.albertasecurities.comandgt;andgt;.

The Commissions have proposed an aggressive timeline to the TSE and CDNX which, following their review of the public comments, could see regulatory approval being granted by the end of July. Each of the Commissions will hold meetings in July to consider granting formal approval of the transaction.

The Alberta Securities Commission is the industry funded regulatory agency responsible for administering the Alberta Securities Act. Its mission is to foster a fair and efficient capital market in Alberta and, together with the other members of the Canadian Securities Administrators, develop and operate the Canadian Securities Regulatory System.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities and exchange contracts within the province.

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