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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.
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To: CIMA who wrote (55749)7/21/2000 9:03:16 AM
From: StocksDATsoar  Read Replies (1) of 150070
 
Toronto Stock Exchange -
Globe says TSE mulls regulation overhaul
Toronto Stock Exchange TSE
Shares issued 0 1899-12-30 close $0
Friday Jul 21 2000
Also Ontario Securities Commission (OSC)
Also Royal Bank of Canada (RY)
The Globe and Mail reports in its Friday edition that the Toronto Stock Exchange is considering overhauling its institutional trading regulations in the wake of a scandal that saw 12 stock traders fined or suspended for their part in helping RT Capital artificially boost share prices. The Globe's Roma Luciw writes that Tom Atkinson, director of market regulation enforcement at the TSE says the exchange is looking at "bringing in new rules dealing with institutional trading in all aspects of the (TSE) member firms' trading and trying to raise the level of compliance within the firms." Mr. Atkinson did not indicate what type of changes are being considered. The TSE described the actions of the traders in helping to set higher artificial market prices as manipulative and deceptive trading. Industry experts echoed the TSE's concerns, calling for increased monitoring, updated rules and more detailed regulations to prevent future cases of high-closings. "It all deals with the integrity of the individual, and management sets an example in this too," said an industry source.

(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com
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