The Commission approved a memorandum of understanding (MOU) about the oversight of exchanges and quotation and trade reporting systems (QTRSs). The MOU will replace the MOU regarding oversight of the Canadian Venture Exchange and include all securities commissions with exchanges and QTRSs in their jurisdiction based on a lead regulator model. It is intended that this MOU will form the basis in the future for the oversight of exchanges and QTRSs.

The MOU is subject to the approval of the Minister of Finance. The MOU was sent to the Minister on September 6, 2002.

The MOU is being published in chapter 13 of this bulletin (attached as Schedule C to the TSX Venture Exchange exemption order).