Canada Needs to Discuss Reverse Takeovers, OSC Says
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The head of Canada’s largest regulator, investigating fraud allegations at Sino-Forest Corp., said the country needs to discuss whether reverse takeovers are appropriate for Toronto-listed companies that have operations overseas.
“We need to take a look at RTOs,” Ontario Securities Commission Chairman Howard Wetston said today at a Toronto Board of Trade event. “One of the issues that might flow from our examinations of the emerging-markets issues is to have a good discussion about whether the RTO as a vehicle is appropriate.”