IR Leader
January 26, 2016
If you have not renewed your CIRI membership for 2016, please consider that over the past year, CIRI has:
  • continued advocacy efforts with the regulators, representing the views of IROs;
  • informed members of developments on regulatory issues effecting the IR field through Issues Backgrounders/Briefs;
  • delivered high quality professional development events on leading investor relations practices;
  • kept you current on developments in investor relations and related fields through communications, including IR leader, IR focus and wIRed;
  • launched new initiatives in 2015 such as IR directions, our research publication;
  • hosted two free to member webinars; and
  • continued to provide all the benefits (VAN, job postings, and many more) that you have come to rely on from CIRI.

Don't delay. Renew your membership today!

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CIRI is working with Glass Lewis to increase engagement with Canadian issuers, to enhance accuracy and transparency in the Canadian capital market and, ultimately, to improve the quality of the shareholder vote. Glass Lewis is initiating a pilot of their Issuer Data Report (IDR) in Canada. The IDR includes information that will be used by Glass Lewis to inform its voting recommendations. CIRI encourages Canadian issuers to participate in this pilot in order to improve the accuracy of information that is used by institutional shareholders when voting on company matters. CIRI members are being offered pre-launch, priority access to the report. To participate in this pilot, please contact Yvette Lokker before February 5, 2016.

Click here to read the full news release.

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CIRI extends sincerest congratulations to all nominees of the IR Magazine Awards - Canada 2016. To view the complete list of nominees, most of whom are CIRI members, click here

The awards will be presented at a gala event on Thursday, February 4, 2016 at The Carlu, Toronto.

Good luck to all nominees and congratulations on your contribution and support of the investor relations profession.  You are all winners!

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Top Stories

TSX Provides FAQ Guidance on Normal Course Issuer Bids

On January 15, 2016, the Toronto Stock Exchange (TSX) issued Staff Notice 2016-0001 (the Staff Notice) which answers questions on the application of sections 628 and 629 of the TSX Company Manual (the Manual) to normal course issuer bids (NCIBs) by listed issuers. While some of the guidance underscores information from the Manual, a number of points have been helpfully clarified.

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CSA Provide Updated Guidance on Non-GAAP Financial Measures

The Canadian Securities Administrators (CSA) have provided revised guidance on the use of non-GAAP financial measures aimed at ensuring that information disclosure by issuers does not mislead investors. An updated version of CSA Staff Notice 52-306 (Revised) Non-GAAP Financial Measures (Notice 52-306) was published on January 14, 2016 reflecting amendments to IAS 1 Presentation of Financial Statements (IAS 1) regarding additional subtotals presented in financial statements.

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Canadian Board Members and Cyber Expertise: New U.S. Bill Proposes Board Level Cybersecurity Expertise - Could Canada Move in the Same Direction?

Lawmakers south of the border are seeking to force public issuers to disclose cybersecurity expertise at the board level in an effort to improve cybergovernance as the number of reported cyber risk incidents continues to climb. While the Canadian approach to date has been different, Canadian regulators have made clear their expectations that board-level involvement and engagement is, in their view, critical.

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U.S. Corporate Governance: Have We Crossed the Rubicon?

The general themes on the corporate governance front - shareholder activism, governance activism, scrutiny of board composition, concerns regarding board oversight of risk management, director-shareholder engagement - remain ever-present. Debate continues as to whether the paradigm shift from a more deferential, board-centric corporate governance model to a more skeptical, shareholder-centric model ultimately will damage the ability of U.S. public companies to invest in the future, innovate, and create jobs and economic growth.

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New Offering Memorandum Exemption Increases Access to Capital Markets in Ontario

Effective January 13, 2016, issuers in Ontario will be able to take advantage of a new prospectus exemption permitting for investments from a wider range of investors through the use of an offering memorandum (the OM Exemption).

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The Global Risks Report 2016

Now in its 11th edition, The Global Risks Report 2016 draws attention to ways that global risks could evolve and interact in the next decade.

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Activist Investors: How Companies Should Best Engage

Forbes interviewed members of the Shareholder Activism Group at Schulte Roth & Zabel LLP (SRZ). They discuss the future objectives of activists, the role of activism globally, and how perception of the investors has changed.

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The $578 Billion Push for Boards With More Than Just White Men

More funds are looking at race, gender as investing criteria.

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