Yesterday, the British Columbia Securities Commission published its final recognition orders regarding Maple Group's acquisition of the TMX Group. Of particular interest, the recognition order respecting the TSX Venture Exchange requires that at least 25% of the directors of the TSX-V have relevant venture experience, that the TSX-V maintain regional advisory committees comprised of participants in the Canadian public venture capital market, and that the TSX-V maintain an office in Vancouver that has a role in certain functions.
The Alberta Securities Commission also issued its final orders related to the acquisition yesterday. Similar to provisions in the BCSC's order, the Alberta order contains provisions respecting director experience and the requirement that the TSX-V maintain an office in Alberta.
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