IR Leader
August 25, 2015
Are you new to the investor relations profession? Are you looking to expand your investor relations skills while building your network? Then we have the resources you need, in one convenient and affordable bundle.

This bundle includes:
  • Registration to the Essentials of Investor Relations in Toronto (Value $1,050)
  • A CIRI National and Chapter Membership (Value $740)
  • Standards and Guidance for Disclosure plus Model Disclosure Policy (Value $500)
  • Guide to Developing an Investor Relations Program (Value $135)
Total Retail Value: $2,425. CIRI’s 2015 Membership/Essentials of IR Bundle: $1,490. That's a savings of $935!

For more details on the benefits and savings in this package, click here.
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A CIRI membership offers significant value through the many Professional Development, Publications and Advocacy benefits. In addition, there are a number of 'hidden gems' included with the membership package. These 'hidden gems' include:

Mentorship Program
New IROs may find the profession daunting at first due to its complex and multidisciplinary nature. That is why CIRI's Ontario, Québec, Alberta and British Columbia chapters offer a Mentorship Program to their members.

These programs pair leading IR professionals (mentors) with those fairly new to IR (protégés) for strategic one-on-one meetings to help the protégé achieve specific career development goals. While working towards the protégé's goals, the mentorship team shares ideas, perspectives and experiences. Each team meets several times over six months.

The Ontario, Québec, Alberta and British Columbia programs offer mentors a rewarding leadership experience, while providing all participants the benefits of connecting with another colleague in the profession.
To learn more about each Chapter's Mentorship Program, click here.

Volunteer Advisory Network
CIRI's Volunteer Advisory Network is a vehicle where CIRI members help other CIRI members. This resource lists CIRI members with public companies who are willing to volunteer their time and expertise to help other CIRI members on a vast range of investor relations topics.

For a list of topics and topic experts, click here.

Job Listings
Are you looking to fill a position or make a career change? Here's an effective way to reach CIRI members who are looking for new challenges in investor relations.

Positions are posted exclusively for members and notices are sent to members as new positions are posted. Members may submit a job posting free of charge. 
To review the current job listings, or submit a listing, click here.

Refer a Friend Program
Any current CIRI member who refers a new member to CIRI will receive a $100.00 credit.

You are already telling people about CIRI and the many great benefits of membership, so why not reap the rewards from a referral. Direct your prospective referral to to apply online. Once their membership is processed you will receive a $100.00 credit.

This $100.00 credit can be used on your:
  • Annual Conference registration;
  • Essentials of IR registration; or
  • The next year's annual membership renewal dues.
To learn more about how to qualify for the Refer a Friend Program, click here.

Three-For-One Program
If one company is referenced on three new member applications within the same calendar year, that company will receive either a new CIRI membership free; a full refund on an existing CIRI membership; or a free renewal of next year's dues of an existing membership (both free membership and refund excludes the optional NIRI package).

To find out if your company qualifies, and how to apply, click here.

Not yet a CIRI member?  Click here to join and start taking advantage of the many CIRI member benefits.
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Top Stories

SEC Adopts CEO Pay Ratio

On August 5, 2015, the U.S. Securities and Exchange Commission (SEC) adopted a final rule to amend Item 402 of Regulation S-K under the Securities Act of 1933 to require most SEC-registered U.S. companies to disclose the ratio of the compensation of their chief executive officer (or any equivalent position) to the median compensation of their other employees. The long-awaited rule, mandated by the Dodd–Frank Wall Street Reform and Consumer Protection Act to highlight CEO pay, does not resolve criticisms of the proposed rule regarding the lack of conformity or comparability of pay ratios across companies.

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2 Become 1: CSA Proposes Creation of Single Exempt Distribution Reporting Regime

Addressing a compliance burden for issuers, the Canadian Securities Administrators ("CSA") published proposed amendments ("Proposed Amendments") to National Instrument 45-106 Prospectus Exemptions (NI 45-106) on August 13, 2015. If implemented, the Proposed Amendments will introduce a single, harmonized exempt distribution reporting form (the "Proposed Report") for all provinces and territories.

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Cross-Listed Canadian Issuers May Face Clawback Requirements

Last month, the U. S. Securities and Exchange Commission (SEC) proposed rules (Proposal) directing U.S. securities exchanges and associations to require companies to adopt clawback policies that would mandate executive officers to repay erroneously awarded incentive-based compensation. The Proposal reflects implementation of provisions of the The Dodd-Frank Wall Street Reform and Consumer Protection Act. This change will affect Canadian issuers that are cross-listed on a U.S. exchange, including Multijurisdictional Disclosure System (MJDS) filers.

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Canada Seeking Consultation on Guidance and Reporting Requirements Under the Extractive Sector Transparency Measures Act

Natural Resources Canada ("NRCan") recently released draft guidance and specifications for reporting payments to governments and government officials under the Extractive Sector Transparency Measures Act ("ESTMA"). Mining and oil and gas companies should be carefully reviewing these drafts to understand how these new mandatory payment disclosure requirements will impact their operations in Canada and abroad. NRCan's consultation period expires September 22, 2015.

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The Link Between Board Diversity and Smart Business

Corporate America has looked to improve diversity in the boardroom as a step towards bringing companies closer to their customers. However, even among the largest corporations, diversity in the boardroom is still aspirational.

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Reports of Exempt Distribution: CSA Proposals that Could Both Hurt and Help Issuers

The Canadian Securities Administrators (CSA) have proposed amendments to the rules relating to reports filed with securities regulators in connection with private placements.

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TSX Provides Guidance to Emerging Market Issuers

In recent years, emerging market issuers have faced greater scrutiny by Canadian regulators as a result of questions and concerns about issuers with significant business operations in emerging markets (emerging market issuers). In 2011, the Ontario Securities Commission (OSC) commenced a targeted review of certain emerging market issuers listed on Canadian exchanges and published OSC Staff Notice 51-719 Emerging Markets Issuer Review outlining the results of its review and recommendations on March 20, 2012. The OSC subsequently published OSC Staff Notice 51-720 Issuers Guide for Companies Operating in Emerging Markets on November 9, 2012, to assist emerging market issuers and their directors and officers with their governance and disclosure practises.

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The Activist Revolution

Understanding and navigating a new world of heightened investor scrutiny.

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SEC Rules to Expose Highest Executive Pay Can Be Easily Gamed

When the U.S. adopted a new rule last week forcing companies to show how much more top executives earn than workers, regulators noted there's leeway. Academics and activists have spent the time since then figuring out how boards might game the system.

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Women in Leadership Roles at TSX-Listed Companies: Diversity Disclosure Practices

Effective December 31, 2014, Canadian issuers in participating provinces, with the exception of TSX Venture Exchange issuers and investment funds, became subject to disclosure requirements with respect to the representation of women on boards and in senior management positions. The overall picture is disappointing.

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Responding to an Activist: While Special Committee Members May Face Greater Public Scrutiny, They Are Not Subject to a Higher Legal Standard

Given the committee's role in advancing the company's public response, committee members may be subjected to greater public scrutiny and, potentially, criticism, including from the activist.

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Canada's 30% Club Aims to Boost Proportion of Women on Boards of Directors

Officials from many of Canada's largest banks and accounting firms are among a blue-chip group of founding members of Canada's new 30% Club, a global organization aimed at promoting more women to senior corporate roles.

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