In accordance with the U.S. Dodd-Frank Act, the Securities and Exchange Commission introduced proposed rules in September 2013 to provide for new 'pay ratio disclosure' obligations. According to the proposal, every public company would be required to disclose the ratio of the compensation of its principal executive officer (PEO) to the median compensation of its employees in any filings that mandate executive compensation disclosure, such as annual reports, registration statements, and proxy and information statements.
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Companies, pension funds call for changes to tangled, unreliable system that often produce inaccurate tallies.
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The Canadian Securities Administrators (CSA) today published for comment proposed amendments relating to the short-term debt prospectus exemption in National Instrument 45-106 Prospectus and Registration Exemptions.
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Comprehensive reforms initially sought are not necessary, regulators say.
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On January 16, 2014, the Ontario Securities Commission (OSC) released proposed amendments to corporate governance disclosure requirements (Proposed Amendments). The Proposed Amendments follow on a consultation paper released by the OSC in July, 2013 and a subsequent public roundtable discussion regarding the paper. A transcript of the roundtable discussion was also released.
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As we've previously discussed, ISS released its 2014 Corporate Governance Policy Updates in November of last year. ISS also announced that it was continuing consultations on a number of issues that could result in policy changes for 2015, with director tenure being identified as one such issue in the U.S. and Canada. Currently, ISS' Benchmark U.S. and Canada Voting Policies do not consider director tenure as a factor in setting vote recommendations in director elections.
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The OSC has proposed new requirements to increase transparency regarding the representation of women.
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Request for Comment
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The Ontario Securities Commission today released proposed amendments to enhance the disclosure of boards' gender diversity.
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