The consultation draft of the federal Capital Markets Stability Act (CMSA) issued in September 2014 proposes a novel regulatory regime directed at protecting the stability and integrity of Canada's financial system through the management of systemic risk, which was discussed in a number of public comment letters.
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Proxy advisory services are paid by institutional shareholders to 'find' issues.
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As public companies navigate the 2015 proxy season, a potential change to executive compensation disclosure is on the horizon. The US Securities and Exchange Commission (SEC) has proposed new rules to implement the "pay-versus-performance" disclosure requirement under Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The new rules would mandate and standardize companies' "realizable" and "realized" pay disclosures and compare them to total shareholder return (TSR).
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On April 30, 2015, the Canadian Securities Administrators (CSA) adopted National Policy 25-201 Guidance for Proxy Advisory Firms (Policy), effective on that date. A draft Policy was published for comment in April 2014. For further details, please access our May 2014 Blakes Bulletin: CSA's Light Touch Proxy Advisory Firm Proposal May Disappoint Issuers.
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The first quarter of 2015 saw a number of regulatory developments in Canadian capital markets that may specifically affect companies in the oil and gas industry.
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When John P. Carlin, the head of the Justice Department's national security division, appealed on Friday to the hedge fund industry to share more information with the government, it was a tough sell.
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Could combining the two roles offer your company a competitive advantage?
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