The Canadian Securities Administrators (CSA) today published in final form amendments and changes to several national instruments and companion policies concerning the implementation of an access model for prospectuses of non-investment fund reporting issuers (the Access Model).
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On December 20, 2023, the Minister of Public Safety and Emergency Preparedness (the Minister) published the long-awaited guidance on the Fighting Against Forced Labour and Child Labour in Supply Chains Act (the Act), which officially came into force as of January 1, 2024. Although the guidance clarified certain aspects of the Act’s interpretation and application, some uncertainty remains. We discuss ten key clarifications.
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On December 22, President Biden signed into law the U.S. National Defense Authorization Act for Fiscal Year 2024 (NDAA). As enacted, the NDAA does not include the provision in the U.S. Senate’s version of the legislation that would have eliminated the Section 16 exemption from the Securities Exchange Act of 1934 (Exchange Act) for foreign private issuers. As a result, SEC-reporting foreign private issuers will remain exempt from the U.S. insider reporting and short swing profits liability regime.
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Glass, Lewis & Co (Glass Lewis) and Institutional Shareholder Services (ISS) have each released updates to their Canadian proxy voting guidelines for the 2024 proxy season. The Glass Lewis updates apply to shareholder meetings of publicly traded Canadian companies held after January 1, 2024 and the ISS updates are effective for shareholder meetings occurring on or after February 1, 2024.
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Institutional Shareholder Services (ISS) has published policy updates for its 2024 Global Proxy Voting Guidelines (Guidelines) which include key developments with respect to board diversity disclosure and executive compensation. ISS’ updated Guidelines will apply to shareholder meetings beginning on Feb. 1, 2024.
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