Canada’s TMX asks regulators for rules for U.S.-linked pot stocks

TORONTO (Reuters) – Canada’s TMX Group Ltd (X.TO) is seeking guidance from the country’s securities regulators, it said on Thursday, as it weighs how to deal with marijuana companies listed in Canada with interests in the United States, where the business remains federally illegal.

The move seeks to draw a line under policy uncertainty for investors and companies that pits more liberal rules around cannabis cultivation and distribution in Canada against a Trump administration that has taken a harder line.

While TMX has largely shied away from listing marijuana-related companies with U.S. investments or operations on its own Toronto Stock Exchange (TSX) and other venues, it processes all Canadian equity trades via its clearing house, the Canadian Depository for Securities (CDS).

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