The IIAC continues to support efforts by the TSX to increase listings. 

The IIAC appreciates the TSX’s acceptance of the IIAC’s prior recommendations: 

With respect to oil & gas issuers, the acceptance of: 

• The $50 million market capitalization requirement. 
• 2P2 (prove plus provable) reserves. 
• The value of guidance on discount rates. 

With respect to market support considerations, the provision of data specifically excluding closed end funds, SPACs, and REITs in the determination of market capitalization thresholds. 

The IIAC continues to support and is pleased to see the continued inclusion of: 

• Agnosticism of public or private funding. 
• Alignment of reserves with National Instrument 43-101. 
• The removal of Part V from the TSX company manual. 

At this stage, proposed amendments should be supported by quantitative and qualitative analysis.  The IIAC further suggests: 

• Integration of OLR standards with market making and liquidity testing. 
• Demarcation of GAAP and non-GAAP principles. 
• Ticker extensions for speculative securities. 
• Greater flexibility in discount rates for oil & gas issuers. 

Governance issues continue to present opportunity.

See details of recommendations here.