TORONTO -- The company that runs the Toronto Stock Exchange and the TSX Venture Exchange is moving to loosen some rules to help listed companies as they deal with the COVID-19 pandemic.

TMX Group Ltd. says the changes will give companies more time to hold annual shareholder meetings and obtain shareholder approval for security-based compensation plans.

Companies on the TSX will also not have to notify the exchange if they need more time to file certain financial statements.

The TSX and TSXV are not requiring companies to apply to the exchanges to take advantage of the changes, which will automatically apply today.

The exchanges say they continues to expect companies to comply with applicable legislation regarding the timing of their 2020 annual meetings.

The TSX has also made adjustments to share buybacks and delisting criteria.