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Gold/Mining/Energy : Donner Minerals (DML.V) -- Ignore unavailable to you. Want to Upgrade?

To: Buckey who wrote (6606)	8/7/1998 12:12:00 PM
From: Winer	Read Replies (2) \| Respond to of 11676

Afternoon laugh; Someone notices the true nature of the VSE: VSE news distribution not in 'public interest' The Vancouver Sun The Vancouver Stock Exchange decision giving Canada NewsWire a monopoly on distributing news releases from VSE-listed companies is not in the public interest, the B.C. Securities Commission was told Thursday. "Public interest is served by a competitive marketplace," said Malcolm Maclean, counsel for competing news provider, Canadian Corporate News. CCN and other news providers, including Canada Stockwatch, are seeking a stay from the commission of the contract between the VSE and Canada NewsWire that makes CNW sole disseminator of VSE-related information, effective Sept. 1, 1998. In its 15-page filing with the commission, CCN said the VSE's new policy "is contrary to the public interest inasmuch as the VSE is, by its regulatory power, purporting to create a monopoly for news dissemination for listed companies." It also said that the new VSE policy contravenes public interest by effectively encouraging inter-listed companies to de-list from the Vancouver Exchange. The VSE has declined a request from the Toronto Stock Exchange to exempt TSE inter-listed companies from the filing requirement. The new policy requires listed companies to submit news releases to the VSE by e-mail to its Internet site, replacing the paper filing system. The VSE will then transmit the news releases to Canada NewsWire. "A lot of our members who are also VSE-listed are complaining about the coercive way the exchange is forcing them to sign up with CNW," said B.C. and Yukon Chamber of Mines executive director Bruce McKnight. "They are not complaining about filing electronically as such, but of the draconian methods of the VSE." McKnight said some companies already use CNW and have a better rate than they would get with the VSE contract. "And some companies also file for free via Canada Stockwatch," he said. The filing with the commission said CNW will charge 58 cents a word to disseminate news releases. Canada Stockwatch counsel Mark Skwarok said the charge-per-word under the VSE's new policy would likely have a "chilling" effect on releases. "Canada Stockwatch issues free-of-charge," he said. "The service is paid for by subscribers." Skwarok said releases received by hard copy are sent out by Canada Stockwatch within 20 minutes and releases filed electronically are disseminated instantly. He said Canada Stockwatch would lose subscribers if its VSE-news dissemination service was lost to a CNW monopoly. __________________________________________________________________ Personally, I have an intense dislike for Canada Stockwatch's infamous editing policies.