The IFRS Foundation’s International Sustainability Standards Board (ISSB) announced the release of the initial exposure draft of its proposed nature-related disclosure requirements, designed to help companies provide material information to investors about nature-related risks and opportunities in a consistent and comparable manner.
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On September 24, 2026, the Toronto Stock Exchange (TSX) published for comment proposed amendments to the continued listing requirements in the TSX Company Manual (the Manual). The proposals would raise the minimum market value test from CA$3 million to CA$10 million and tighten several other delisting criteria. The comment period is 30 days, closing on October 26, 2026. If approved, TSX expects the changes to take effect in the fourth quarter of 2026.
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The Canadian Securities Administrators (CSA) today published in final form amendments to National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure (NI 52-112) and other materials (together, the Amendments). The Amendments follow a consultation launched in November 2025 and consider the comments received.
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The Canadian Securities Administrators (CSA) today published in final form amendments to National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure (NI 52-112) and other materials (together, the Amendments). The Amendments follow a consultation launched in November 2025 and consider the comments received.
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Yesterday, ISS released the results from its annual global benchmark policy survey. There were a number of key differences between investor and corporate/non-investor respondents on a number of issues – including on director tenure, semiannual reporting, discretionary bonuses and climate disclosure.
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Shareholder activism in Canada has historically been especially visible at small- and mid-cap companies with seemingly less activity targeting the larger end of the market. Is this changing?
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Activism continued at elevated levels globally in the first half of 2026. Approximately 40% of campaigns involved an M&A-related thesis, fueled by a constructive regulatory and financial environment. However, the high volume of activism has not translated into a corresponding increase in proxy fights going to a vote. Settlements remain the principal mechanism for resolution, with a significant number of settlements being announced prior to any public agitation by the activist. The proxy voting system is also becoming more fragmented, and therefore less predictable, as the “Big Three” institutional investors split their voting teams, pass-through voting becomes more prevalent, and large investors increasingly incorporate AI into their voting models.
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