Advocacy Update: CIRI Comments on the Consultation on the Canada Business Corporations Act

CIRI submitted comments to Industry Canada on their Consultation on the Canada Business Corporations Act (CBCA). The Consultation addressed a number of issues that are relevant to investor relations professionals including: slate voting; majority voting; annual elections for Directors; notice-and-access; insider trading; shareholder proposals; executive compensation; overvoting, share lending and empty voting; board diversity; beneficial shareholder rights; early warning report threshold; and NOBO/OBO status.

CIRI took this opportunity to reiterate our position from past submissions to provincial regulators and exchanges. Moreover, we indicated that any changes being considered should take existing regulations into account and should simplify the regulatory environment for issuers. We also requested that further consultations should be made with stakeholders, including CIRI, prior to making any changes to the Act.

To view the complete submission, click here.

If you have any questions about this issue, or CIRI’s comments, please contact Yvette Lokker.