The Canadian Press
Updated: Wed. Mar. 2 2011 8:02 AM ET
TORONTO — An Ontario legislative committee begins hearings today into the proposed merger of the Toronto and London stock exchanges.
Ontario Finance Minister Dwight Duncan has come under fire from the provincial opposition for raising questions about the proposed merger of the TMX and LSE.
Duncan wonders whether it's really a merger of equals as the proponents claim, and has concerns about a loss of provincial control over an important sector of the economy.
The minister rejects suggestions his comments have prejudiced the committee, saying all he's done is ask questions.
Progressive Conservative critic Peter Shurman says Duncan's comments about the deal have been negative, which he worries will prejudice the Liberal-dominated all-party committee.
The Ontario Securities Commission will hold a public hearing into the possible merger of the stock markets, but not until the legislative committee completes its review.
Veteran Liberal cabinet minister Gerry Phillips will chair the committee looking into the merger of the stock exchanges, which Duncan says shows how important the issue is to the province.