With the close of another year quickly approaching, it is time again for public companies to get equipped with the developments of the past year to position themselves for success in 2016. A review of the 2015 proxy season and a summary of the current and anticipated changes to disclosure regulations for the 2016 proxy season are contained in this report.
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Institutional Shareholder Services (ISS) has issued FAQs with respect to its U.S. voting policies for the upcoming proxy season. The FAQs clarify ISS positions on a broader variety of topics than were covered in the voting policy updates issued in November.
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It was a busy year for Canadian securities regulators and market participants. Significant developments impacted virtually every area of securities law from M&A to corporate finance to continuous disclosure to registrant regulation and derivatives.
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On December 17, 2015, the TSX Venture Exchange (TSXV or the Exchange) published a White Paper on its proposed broad-based reforms to various TSXV rules, policies and strategies aimed at fostering renewed interest in the Exchange and its services in the wake of ongoing sluggish capital markets conditions for junior issuers.
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Although activist investors are often a source of worry for executives, there are a number of positive effects that they can bring to a company.
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Earlier this month, TMX Group announced that TSX Venture Exchange (TSXV) is introducing changes to help support, revitalize and grow its marketplace. Today, a whitepaper titled Revitalizing TSX Venture Exchange: Canada's Public Venture Market was published outlining TSXV''s tactics designed to address the current environment and secure a strong future as the leading public market for early-stage companies not only in natural resources sectors, but also in fast-growing sectors such as technology, clean technology, renewable energy, and life sciences.
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On August 25, 2015, a revised consultation draft of the CMA and draft initial regulations under the CMA (Initial Regulations and, together with the CMA, the Consultation Drafts) were published for comment. Given their scope, Blakes is publishing a series of bulletins regarding various aspects of the Consultation Drafts, which can be accessed here. This bulletin provides an update regarding the anticipated regulation of take-over bids and issuer bids under the Cooperative System.
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Almost half of hedge fund firms plan to roll out a new hedge fund by the end of next year despite regulations challenging how they market, the Alternative Investment Management Association (AIMA) said on Monday.
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Recommendations to Boards also call for greater diversity and ties between pay and sustainability.
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