CIRI Issues and Advocacy Update
CIRI's Issues Committee provides updates on the following Issues and Advocacy initiatives:
Proposed Amendments: Form 58-101F1 Corporate Governance Disclosure (Form 58-101F) Of National Instrument 58-101 Disclosure of Corporate Governance Practices (NI 58-101)
The Ontario Securities Commission issued Proposed Amendments to Form 58-101F1 Corporate Governance Disclosure (Form 58-101F) of National Instrument 58-101 Disclosure of Corporate Governance Practices (NI 58-101)
and is seeking feedback by April 16, 2014.
The Proposed Amendments would require TSX-listed and other non-venture issuers to provide disclosure regarding the following matters on an annual basis:
- director term limits;
- policies regarding the representation of women on the board;
- the board’s or nominating committee’s consideration of the representation of women in the director identification and selection process;
- the issuer’s consideration of the representation of women in executive officer positions when making executive officer appointments;
- targets regarding the representation of women on the board and in executive officer positions; and
- the number of women on the board and in executive officer positions.
The CIRI Issues Committee is currently reviewing the Proposed Amendments to determine whether a submission will be made. We will keep you apprised of any updates.
IR Issues Brief - Advance Notice By-laws
As was indicated in July of 2013, Canadian capital markets have recently seen a rise in activity from activist investors. As a result, issuers are exploring new defensive strategies, one of which is the adoption of advance notice by-laws. Since the initial release of this IR Issues Brief
, the number of adopting issuers has increased and the Case Study issuer, Sterling Resources, has had a positive outcome from their AGM. This IR Issues Brief
has been updated to reflect these changes. As well, the list of sources for Additional Information has been expanded.
To read the updated IR Issues Brief
, click here
(Please note, this is a members only publication. You will need to log in to CIRI.org
to access the document.)
CSA Transition of National Systems to CGI
On January 15, the CSA announced the successful transition of its National Systems (SEDAR, SEDI and NRD) to CGI.
To read the full news release, click here
CIRI's Issues Committee will continue to keep members abreast of developments pertaining to CIRI’s Issues and Advocacy initiatives.