TORONTO, March 9 (Reuters) - TD Securities Chief Executive Bob Dorrance said he’s concerned that the London Stock Exchange’s (LSE.L) proposed takeover of TMX Group (X.TO) could limit Canadian companies’ access to capital and hurt Canada’s regulatory control over its own markets.
Dorrance was speaking at Ontario parliamentary hearings into the deal. TD Securities is the investment banking unit of Toronto-Dominion Bank (TD.TO), Canada’s No. 2 lender.
“The TMX will now report to the LSE-TMX. While this has been billed as a merger of equals ... It is not,” he said. (Reporting by Pav Jordan, writing by Cameron French; editing by Rob Wilson)