Canadian and U.S. companies will be able to raise capital through crowdfunding beginning in 2016. Crowdfunding is already established as a way of raising money via donations from groups of people over the Internet to fund various projects and ventures.
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Today Institutional Shareholder Services Inc. (ISS) announced that, effective February 1, 2017, it will reduce the number of public company boards on which a director may serve before it recommends that shareholders withhold votes from that director under its amended Overboarded Directors Policy (the Amended Policy). A director who serves on too many public company boards is said to be "overboarded".
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As stock buybacks reach historic levels, signs that corporate America is undermining itself.
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Recently, I criticized ISS' proposed changes to its policy on "overboarding". Therefore, I was pleased to see that I wasn't a lone voice crying in the wilderness. The Society of Corporate Secretaries and Governance Professionals also submitted a comment letter to ISS. The Society echoed my observation that ISS had provided no evidentiary support for its proposed changes.
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After a long wait and much anticipation, securities regulators in five Canadian provinces have announced a new crowdfunding regime. It includes two components, a crowdfunding prospectus exemption and a registration framework for funding portals. This new capital raising regime will be available in Ontario, Quebec, Manitoba, New Brunswick and Nova Scotia.
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The Government of Canada has proclaimed into force the Extractive Sector Transparency
Measures Act (the Act). The Act requires entities engaged in the commercial development of oil, gas and minerals
to disclose payments made to all levels of government, both in Canada and internationally.
This CPA Canada Reporting Alert highlights the basic requirements of the Act, considers possible business implications, and suggests an action plan to implement the Act.
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Three academics investigate whether the world's largest investors use their influence to enact change in the companies they hold.
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Companies may have reason to fear employees' reactions after disclosing the ratio between CEOs' pay and median salaries starting in 2017.
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So whose is the business? No one's, just like the river Thames.
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