Say-on-pay, board diversity and majority voting requirements are among the key proposals aimed at modernizing the Business Corporations Act (Ontario) (OBCA) in the recently introduced Bill 101, Enhancing Shareholder Rights Act, 2017. Following the lead of amendments to the Canada Business Corporations Act (CBCA) proposed in late 2016, Bill 101, a private member's bill, addresses some of the hot button issues facing corporations in Canada.
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The Canadian Securities Administrators (CSA) today announced a project to review the disclosure of risks and financial impacts associated with climate change. The project will gather information on the current state of climate change disclosure in Canada and internationally, and will include consultation with investors and reporting issuers.
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On March 9, 2017, the Toronto Stock Exchange (TSX) issued Staff Notice 2017-001 (the Staff Notice), which provides guidance on the TSX's majority voting requirement and the use of advance notice policies for director election requirements. Significantly, for many issuers, the Staff Notice outlines the TSX's expectations for the use of an "exceptional circumstance" to reject the resignation of a director that is not elected by a majority of votes cast (a Subject Director).
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One reason behind the popularity of sustainability reporting is that transparency not only helps companies tell their story, it also drives improvements in performance. As per the business axiom, "You can't manage what you can't measure." Transparency is a currency that builds trust.
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Women now make up nearly 60% of college graduates in the U.S., as well as more than 50% of graduate school classes in many traditionally male fields, including law and medicine. Yet despite these gains, equality has not been reached in business, especially at the most senior levels.
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Modern electronic communications technology has dramatically expanded the opportunities for engagement between public companies and their shareholders through means such as webcast earnings calls; social media, including Twitter; telephonic or online access to in-person annual shareholder meetings; online roadshows and the like. However, it is only recently that an increasing number of prominent public companies have started to replace in-person annual meetings with virtual annual meetings conducted exclusively online.
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Could your company's next tweet or post violate Canadian securities rules? The answer may be yes, according to a Canadian Securities Administrators (CSA) report on a review of social media practices conducted by the regulatory authorities in Alberta, Ontario and Québec.
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Using survey data from a sample of senior investment professionals from mainstream (i.e. not SRI funds) investment organizations we provide insights into why and how investors use reported environmental, social and governance (ESG) information.
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U.S. companies are anticipating a new wave of tax breaks under President Donald Trump, but some of their investors say they are not receiving enough information about how any windfalls will be used.
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