IR Leader
April 25, 2023

CIRI Membership/Conference Bundle

If you're planning on coming to the Conference, the largest educational and social event of the year for the IR community, why not join CIRI and take advantage of all the benefits of membership. Join CIRI now with this Membership/Conference Bundle and save over $1,200. Find more info here.

Register and Book Your Room for a Chance to Win - Ends Today!

Registration Draw: Register by April 25 to be entered into a draw to win one of three prizes. Winners will be drawn and informed the week of May 1.

  •      Grand Prize: Conference Registration (value up to $1,895 plus taxes)
  •      2nd Prize: $250 Canadian Tire Gift Card
  •      3rd Prize:  $150 Goodfood Gift Card

Hotel Room Draw: Book your hotel reservation at the Hilton Toronto in CIRI's room block by April 25 to be entered into a draw to win a $500 Air Canada gift card! The winner will be drawn and informed the week of May 1.

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...In less than 50 seconds after two bombs went off at the Boston Marathon in 2013, report of the tragedy hit social media. Given how swiftly news of a disaster spreads, the need for advance planning can't be overemphasized. To find out more, click here to read IR leader, March issue.

...Proxy circulars are the primary information source of corporate governance, director qualifications, executive compensation plans and more? Discover best practices for communicating, influencing and persuading their owners to accept Board proposals in the latest issue of IR focus. Click here to see what other topics have been covered.

IR leader and IR focus are published on a quarterly basis. The next issue of IR focus will be published in May and IR leader will be published in June. Watch your email for them!

Not a CIRI member but want to receive these valuable member resources? Join today

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Top Stories

Amendments to the Toronto Stock Exchange Company Manual

Toronto Stock Exchange (“TSX”) has made certain amendments (the “Amendments”) to Section 606 – Prospectus Offerings of the TSX Company Manual. The Amendments aim to provide greater clarity and transparency to issuers as they structure prospectus financings, resulting in expanded access to capital by facilitating timely deal making.

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CSA Proposes to Broaden Diversity Disclosure Rules and Related Corporate Governance Guidelines

On April 13, 2023, the Canadian Securities Administrators (CSA) released a Notice and Request for Comment (the Notice) proposing amendments to current corporate governance disclosure requirements and best practice guidelines relating to diversity, board renewal and the director nomination process (the Amendments).

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ISSB Prepares to Consult on Future Priorities and International Applicability of the SASB Standards

The International Sustainability Standards Board (ISSB) will shortly be seeking feedback on its future priorities for the next two years. In May 2023, the ISSB plans to publish a request for information about its agenda priorities with a comment period of 120 days.

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Get Ready For The U.S. SEC’s Climate Disclosure Rule

The U.S. Securities and Exchange Commission (SEC) is expected to drop its finalized climate disclosure rule any day now. Once released, the rule will require around 7,000 companies listed on U.S. exchanges to report climate information that’s material to their businesses in their periodic financial filings.

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Two Percent Tax on Share Buybacks by Public Companies

As part of the 2023 federal budget, tabled on March 28, 2023, the government has introduced draft legislation to implement a new 2% tax on share buybacks that was first announced in November 2022 as part of the government’s Fall Economic Statement. This tax (referred to below as the “Buyback Tax”) will apply to both normal course issuer bids and substantial issuer bids, among other transactions, and will affect a range of publicly traded entities.

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Canadian Securities Regulators Welcome New CSSB Chair Charles-Antoine St-Jean

The Canadian Securities Administrators (CSA) congratulate Charles-Antoine St-Jean on his appointment as the first-ever Chair of the Canadian Sustainability Standards Board of Canada (CSSB).

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Canadian Securities Regulators Propose Changes to Corporate Governance Disclosure Practices and Guidelines

The Canadian Securities Administrators (CSA) is seeking public comment on proposed amendments to corporate governance disclosure rules and policy relating to the director nomination process, board renewal and diversity. They would require disclosure on aspects of diversity beyond the representation of women, while retaining the current disclosure requirements with respect to women. In addition, the CSA is proposing changes to the corporate governance policy that would enhance the existing corporate governance guidelines relating to the director nomination process and introduce guidelines regarding board renewal and diversity.

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AI Chatbots and the Workplace: Risks and Best Practices for Employers

Consumer AI services like chatGPT, Bing and Bard are chatbot-like tools that use language processing models based on AI technology to answer questions. In recent months, these tools have exploded in popularity, being typically free, easy to access through a browser, user-friendly - and in many cases quite impressive in what they can produce in response to question prompts.

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ISSB Gives Companies an Extra Year on General Sustainability Reporting to Allow Focus on Climate Disclosure

Companies reporting under the new climate disclosure standards being developed by the International Sustainability Standards Board (ISSB) of the IFRS Foundation will be given an additional year to provide disclosure on some sustainability-related risks, in order to enable them to first focus on climate-related reporting, according to an announcement by the ISSB following its most recent meeting.

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