The Canadian Securities Administrators (CSA), in aiming to improve the accuracy, reliability and accountability of the system by which votes are counted at shareholders' meetings, has proposed and is seeking comment on a set of voluntary meeting vote reconciliation protocols. Four protocols are proposed, including one that partially closes the shareholder feedback loop by providing that shareholders be notified if their votes are rejected or prorated.
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An issuer that distributes securities to the public must either file a prospectus with securities regulatory authorities and deliver such prospectus to prospective purchasers, or rely upon a prospectus exemption available under securities legislation. Issuers who rely on certain prospectus exemptions to distribute securities are required to file a report of exempt distribution with securities regulatory authorities within a prescribed time frame following each such distribution.
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Section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) instructed six federal financial regulatory agencies - the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Board), the Federal Deposit Insurance Corporation (FDIC), the US Securities and Exchange Commission (SEC), the Federal Housing Finance Authority (FHFA), and the National Credit Union Administration (NCUA) (collectively, the Agencies) - to jointly issue rules or guidelines limiting incentive-based executive compensation for certain financial institution senior officers and employees.
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Although a sense of optimism seems to have caught up to the mining industry in this post-federal budget announcement period, the quest to find funds to finance mining ventures remains challenging. While various alternative financing tools, such as streams, off-take agreements and royalties, have been on the rise and increasingly relied upon, there seems to be a constant interest in new financing tools. Mining companies that have turned to a crowdfunding platform to finance their ventures are certainly evidencing this trend.
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Canadian securities regulators have published a staff notice
reporting on their recent work on Canada's proxy voting infrastructure,
together with proposed protocols that contain guidance on operational
processes for tabulating proxy votes for shares held through
intermediaries. They have requested comments from market participants on
these protocols by July 15, 2016. The proposed protocols have been
designed to address information and communication gaps in meeting vote
reconciliation that were identified after a detailed review of
shareholder meetings.
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TD's Colleen Johnston on IR as a competitive advantage.
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The sharks are going after bigger prey. Hedge funds big and small are taking on larger targets in their activist campaigns, according to data from FactSet.
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Activist investors seem to be everywhere right now.
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Activist investors, many of them nursing losses for a second straight year, offered no notable new investment opportunities and sounded less confident about upcoming corporate board fights at a prominent industry conference in New York on Tuesday.
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The Securities Act requires the Commission to deliver to the Minister and publish in its Bulletin each year a statement of the Chair setting out the proposed priorities of the Commission for its current fiscal year in connection with the administration of the Act, the regulations and rules, together with a summary of the reasons for the adoption of the priorities.
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