TORONTO, Sept. 19 /CNW/ - The Canadian Securities Administrators (CSA)
indicated support today related to the issuance of a Temporary Order by the
Ontario Securities Commission (OSC) prohibiting short selling of securities of
certain financial sector issuers that are listed on the Toronto Stock Exchange
(TSX) and are also interlisted in the United States (with the exception of one
issuer whose shares are interchangeable).
"The CSA is supportive of the action taken by the OSC today," said Jean
St-Gelais, Chair of the CSA and President & Chief Executive Officer of the
Autorité des marchés financiers (Québec). "Other jurisdictions in the CSA will
be taking similar action today, or in the coming days."
The CSA will also monitor trading in securities of other Canadian
financial issuers and take action if necessary.
The OSC took the action in its capacity as lead regulator of the TSX. The
action taken by the OSC today supports the action taken by the U.S. Securities
and Exchange Commission earlier today. The U.K. Financial Services Authority
took similar action this week.
The issuers affected are: Aberdeen Asia-Pacific Income Investment Company
Ltd., Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of
Commerce, Fairfax Financial Holdings Limited, Kingsway Financial Services
Inc., Manulife Financial Corporation, Quest Capital Corp., Royal Bank of
Canada, Sun Life Financial Inc., Thomas Weisel Partners Group Inc., The
Toronto-Dominion Bank, and Merrill Lynch & Co., Canada Ltd.
The CSA, the council of the securities regulators of Canada's provinces
and territories, co-ordinates and harmonizes regulation for the Canadian
For further information:
For further information: For media inquiries: Laurie Gillett, Ontario
Securities Commission, (416) 595-8913; Barbara Shourounis, Saskatchewan
Financial Services Commission, (306) 787-5842; Sylvain Theberge, Autorité des
marchés financiers, (514) 940-2176; Andrew Poon, British Columbia Securities
Commission, (604) 899-6880; Natalie MacLellan, Nova Scotia Securities
Commission, (902) 424-8586; Mark Dickey, Alberta Securities Commission, (403)
297-4481; Ainsley Cunningham, Manitoba Securities Commission, (204) 945-4733;
Wendy Connors-Beckett, New Brunswick Securities Commission, (506) 643-7745;
Marc Gallant, Prince Edward Island, Office of the Attorney General, (902)
368-4552; Doug Connolly, Financial Services Regulation Division, Newfoundland
and Labrador, (709) 729-2594; Louis Arki, Nunavut Securities Registry, (867)
975-6587; Donn MacDougall, Securities Registry, Northwest Territories, (867)
920-8984; Fred Pretorius, Yukon Securities Office, (867) 667-5225