The Ontario Securities Commission (OSC) has approved significant changes (the “Amendments”) to the Listing Policies and Forms of the Canadian Securities Exchange (CSE). It has published The Amendments as Canadian Securities Exchange – Amendments to CSE Listing Policies – Notice of Approval and Summary of Comments.
The Amendments become effective April 3, 2023.
The Amendments introduce the following main changes:
- qualifications, requirements and financial reporting obligations that reflect requirements for non-venture issuers that would apply to CSE Listed Issuers designated by the CSE as “NV Issuers”;
- requirements and provisions for listing Special Purpose Acquisition Corporations (SPACs) and Exchange Traded Funds (ETFs), including Closed End Funds (CEFs); and,
- additional corporate governance requirements for all CSE Listed Issuers, including security holder approvals, and specific requirements related to restricted securities and take-over bid protections, normal course issuer bids, shareholder rights plans and security-based compensation plans. These additional requirements are consistent with requirements of other Canadian exchanges for venture issuers and non-venture issuers.
Canadian Securities Exchange – Amendments to CSE Listing Policies – Notice of Approval and Summary of Comments is available for download from the website of the Ontario Securities Commission.
For more information, please call Barbara Hendrickson at BAX Securities Law (647) 403-4606.
This publication is not intended to constitute legal advice. No one should act on it or refrain from acting on it without consulting with a lawyer. BAX does not warrant or guarantee the accuracy or currency or completeness of the publication. No part of this publication may be reproduced without the prior written permission of BAX Securities Law.
