While no one can look into the future, a smart CFO can use predictive analytics to understand the market and use that insight to generate growth.
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As noted in the Globe and Mail's recent article, "In Canada's boardrooms, activist investors are striking out" (subscription to the Globe and Mail required), Canadian listed public companies have continued to have success against activist investors.
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The Alberta Securities Commission ("ASC") has published a notice and request for comment on proposed amendments (the "Amendments") to National Instrument 58-101 Disclosure of Corporate Governance Practices ("NI 58-101"). The comment period ends on October 14, 2016. If the comment process does not result in any material changes to the Amendments, the changes are expected to be adopted and in place for the 2017 proxy season.
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Proxy access adoption, board leadership, and gender diversity remained top of mind for corporate boards, driven by continued pressure from shareholders, according to Shearman & Sterling's 14th annual "Corporate Governance & Executive Compensation Survey."
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On October 11, 2016, TSX released guidance with respect to pricing a prospectus offering or private placement where there is undisclosed material information. This guidance will be of particular interest to TSX-listed companies contemplating a prospectus offering or private placement of securities, where the proceeds of such financing are to be used to fund an acquisition.
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The obvious tension between the interests of long-term investors, such as institutional shareholders, and short-term investors, principally represented by hedge fund activists, has been the subject of much discussion of late.
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On September 28, 2016, the securities regulatory authorities in Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Québec, Saskatchewan and Yukon (the "Participating Jurisdictions") published CSA Multilateral Staff Notice 58-308 Staff Review of Women on Boards and in Executive Officer Positions - Compliance with NI 58-101 Disclosure of Corporate Governance Practices (the "Notice"). This is the second review of corporate governance disclosure as it relates to women on boards and in executive positions following the implementation of amendments to National Instrument 58-101 Disclosure of Corporate Governance Practices in December 2014 (the "Rule Amendments").
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Today's issuers, registrants, and regulated entities (collectively, Market Participants) rely increasingly on electronic systems to, among other things, store confidential information, transfer data and intellectual property, record transactions, and track key financial assets. As such, these systems are attractive targets for threat agents seeking to compromise the confidentiality, integrity, reliability or availability of Market Participants' information or their operational capability.
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The World Business Council for Sustainable Development (WBCSD) has released its fourth review of WBCSD members' sustainability and integrated reports.
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Board and management diversity, director election processes and notice-and-access procedures are the key issues dealt with by proposed amendments to Canada's corporate law that were recently introduced in the House of Commons by the federal government. Known as Bill C-25, the proposed amendments, if adopted, would make significant changes to the Canada Business Corporations Act (CBCA), the Canada Cooperatives Act, the Canada Not-for-profit Corporations Act and the Competition Act.
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Canada is one of the world's premier locations for business investment. Boasting an exceptional wealth of natural resources, a sound financial system and world-class infrastructure, Canada is known for innovation in a wide range of sectors.
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