TORONTO (Reuters) – Canada’s TMX Group Ltd (>> TMX Group Ltd), abettor of the Toronto Stock Exchange, said on Monday that it ability delist stocks of marijuana companies with interests in the United States, area their operations are actionable beneath federal law.
TMX appear its affairs as Canadian balance regulators said companies charge acknowledge any affiliation to the U.S. marijuana industry, which has developed as some states relax rules about agronomics and distribution. The regulators did not prohibit marijuana firms with U.S. ties from advertisement in Canada, abrogation allowance for any firms alone by TMX to move to added exchanges.
TMX said it would activate a analysis of cannabis-related companies listed on its exchanges by the end of the year to actuate whether their operations breach advertisement standards.
“There may be issuers on our markets that are not in acquiescence with our requirements,” Ungad Chadda, TMX’s arch of basic accumulation for disinterestedness markets, told reporters at a conference at the company’s headquarters.
While U.S. federal law prohibits marijuana, a announcement issued by above U.S. Deputy Attorney General James Cole in 2013 directed federal prosecutors not to go afterwards those that complied with accompaniment law.
Canada has a national, adapted medical marijuana industry and affairs to approve pot for recreational use by mid-2018.
About 25 companies listed on
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