IR Leader
April 27, 2021

Top Stories

Sixty-eight Out Of 77 Industries Significantly Affected by Climate Rsk, According to SASB

Updated SASB bulletin outlines climate risk reporting specifics by industry.

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Are More Women in Canadian Boardrooms? Sixth Annual CSA Review Now Supplemented by First Ever Reporting Under CBCA Amendments

The Canadian Securities Administrators' (the CSA) updated data on women in corporate leadership shows that women’s representation has increased over the last six years. Data published by Innovation, Science and Economic Development Canada (ISED Canada) confirms that while progress has been made with respect to female representation, there remains a gap in corporate leadership for members of other diverse groups.

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Canadian Companies and SPACs: Special Considerations

With the number of SPACs searching for acquisition targets at record levels, Canadian companies are increasingly being approached for "de-SPAC" transactions.

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Corporation Canada’s Findings from First Annual Diversity Disclosure Review Released

On April 7, 2021, Corporations Canada published Diversity of Boards of Directors and Senior Management of Federal Distributing Corporations (Report). The Report is the first annual review of "comply or explain" disclosure provided by federal distributing corporations (generally, public companies and including venture and non-venture issuers) concerning diversity of their boards of directors and senior management pursuant to the Canada Business Corporations Act (CBCA).

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Where Are The Directors In A World In Crisis?

With the release of a report entitled “360º Governance: Where Are The Directors In A World In Crisis?” (Report), Peter Dey and Sarah Kaplan examine modern good governance from a practical and scholarly standpoint, establishing a new set of governance guidelines for the 21st century (Guidelines).

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Diversity of Boards of Directors and Senior Management of Federal Distributing Corporations

As of January 1, 2020, Bill C-25 requires that distributing corporations governed by the Canada Business Corporations Act (CBCA), including venture issuers provide their shareholders and Corporations Canada with information about the representation of women, Indigenous peoples (First Nations, Inuit and Métis), persons with disabilities and members of visible minorities on their boards of directors and among senior management. This measure is to support the push for increased diversity on corporate boards and among senior management. Using a "comply or explain" approach, corporations indicate whether or not they have a policy on diversity. If so, they provide a summary of the policy; if not, they explain why not. This approach, while not prescriptive, enhances the conversation between management and shareholders about the benefits of diversity.

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