Regulatory approvals are required in order to complete TSX-LSE Merger: report
The Ontario Securities Commission said on Thursday it will not have the final decision on approving or rejecting a merger of the London Stock Exchange (LSE.L) and TMX Group (X.TO, but regulatory approvals are required in order to complete the deal, Reuters reports.
"While it appears that this is uncharted territory, we do have an established framework that will allow us to examine the regulatory aspects of the proposed transaction with a view to assessing whether it is in the public interest to provide the required approvals," OSC chair Howard Wetston reportedly told an Ontario committee looking at the proposal.
Wetston reportedly said the OSC would need to determine the terms and conditions for future regulatory oversight of a merged LSE/TMX, and that it will hold talks with the UK Financial Services Authority on cooperation and oversight on the matter.
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