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Post says TMX not keen to talk about changes at TSX-V

2016-09-13 09:05 ET - In the News

See In the News (C-X) TMX Group Ltd

The Financial Post reports in its Tuesday edition that when it comes to the TMX Group, there may be two standards on transparency. The Post's Barry Critchley, writing in Off the Record, explains that there is the one it enforces on the companies whose shares it lists, and the one that it appears to follow when it comes to questions about its own operations. On Monday, in response to a request for comment about a potential reorganization of the TSX Venture Exchange and the recent departure of a number of senior staff, TMX said it would not provide any information. The departures mean the TSX-V has nobody at the director level in Vancouver, Calgary and Montreal. Over the last week three staffers have or are about to depart the Calgary office, with Rob Fong, director of listed issuer services for Western Canada, being the most senior (Peter Varsanyi and Brian Kaine, are the other two). Earlier, two Vancouver senior TSX-V staff -- Barb Insley, former director of operations and compliance, and John McCoach, former chief executive officer -- also departed, and have yet to be replaced. One well-placed observer said he "was concerned about all the changes," and expressed his surprise at the TMX's lack of clarity.

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