On January 15, 2015, the Toronto Stock Exchange (TSX) published for comment proposed amendments to the TSX Company Manual which would introduce listing requirements for non-corporate entities, such as exchange-traded products, closed-end funds and structured products, as those terms are defined in the proposed amendments.

The proposed amendments address the following, among other matters:

  • minimum and continued listing requirements
  • distribution requirements
  • management
  • net asset value calculation and website display
  • additional listings (including the requirement for non-dilutive pricing in specified instances)
  • management fees paid in securities
  • securityholder approval requirements for changes to declarations of trust and other constating documents.

Comments on the proposed amendments are due on March 16, 2015.