The Canadian Securities Administrators Thursday adopted a policy providing guidance to proxy advisory firms on recommended practices, disclosure and transparency in the services they provide to clients.
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The Canadian Securities Administrators (CSA or we) are adopting National Policy 25-201 Guidance for Proxy Advisory Firms (the Policy). The text of the Policy is published with this notice and will also be available on websites of CSA jurisdictions.
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A new rule proposed by the SEC would require U.S. companies to include a table in their annual meeting circulars comparing executive pay to shareholder return.
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Venture issuers will soon be able to take advantage of modified disclosure requirements that are intended to be less onerous and help reduce the cost of compliance for junior public companies.
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On April 9, 2015, the Canadian Securities Administrators (CSA) published CSA Staff Notice 43-309 - Review of Website Investor Presentations by Mining Issuers (the Staff Notice), which summarizes the findings of a review of 130 investor presentations (the Reviewed Presentations) posted on websites of pre-production stage mining issuers. The Staff Notice reminds mining issuers that investor presentations and other information found on an issuer's website constitute "written disclosure" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (NI 43-101) and, therefore, must comply with NI 43-101's disclosure requirements as well as the forward looking information (FLI) requirements of National Instrument 51-102 - Continuous Disclosure Obligations. The Staff Notice also suggests ways to improve compliance in designing investor presentations and websites to meet disclosure obligations.
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On August 16, 2012, the Canadian Securities Administrators (CSA) published CSA Staff Notice 43-307 Mining Technical Reports - Preliminary Economic Assessments
(the Notice) which sets out staff's position on several issues
regarding the use and disclosure of preliminary economic assessments
(PEAs) under National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101).
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Representatives of the Cooperative Capital Markets Regulatory System ("CCMR") announced last week a number of developments affecting the proposed national securities regulatory framework.
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General counsel and members of the C-Suite are finding that speaking with activist shareholders early in the process can often lead to proposals getting withdrawn before they go to a formal vote by investors.
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This year's proxy season is turning out to be more hostile than ever, as companies fight back against hedge fund activists.
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