The future strength and integrity of the Canada's equity markets will be key for Ontario regulators as they evaluate increasingly controversial plans to combine the Toronto and London stock exchanges. Approval from the Ontario Securities Commission is one of a series of green lights needed for the London Stock Exchange's (LSE.L) proposed takeover of TMX Group (X.TO) to go ahead. It can accept the deal as it stands, or make clear what changes are needed to turn an unacceptable deal into a palatable one. Half of Canada's big banks oppose the deal as it stands, the Ontario government is wary and federal Industry Minister Tony Clement surprised markets last year when he blocked BHP Billiton's (BHP.AX) takeover of Potash Corp (POT.TO).
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