As Canadian policymakers seek new economic opportunities in the wake of the fractured relationship with the U.S., a pair of securities regulators — the Ontario Securities Commission (OSC) and Quebec’s Autorité des marchés financiers (AMF) — have reached a deal with France’s AMF to facilitate the listing of issuers in each other’s markets.
On Monday, the OSC and the AMF announced an agreement with the AMF France to support cross-listing. While the arrangement doesn’t doesn’t provide issuers with regulatory relief — companies will still have to comply with the regulatory requirements of both countries — the regulators are establishing a new cooperative procedure to ease prospectus approvals.
“Co-operation and information sharing across global jurisdictions is important to facilitate the regulation of cross-listed issuers,” said Grant Vingoe, CEO of the OSC, in a release.
“This agreement is another way we can support Canadian issuers by opening up new possibilities,” he added.
Marie-Anne Barbat-Layani, chair of the AMF France, stressed that her agency is committed to supporting France’s capital markets.
“This agreement is of great importance and confirms both the competitiveness of the Paris financial centre and the excellent relationships we maintain with our Canadian counterparts at AMF Québec and the OSC,” she said.