Regulatory Alerts2023-04-13
Amendments to Policy Statement 58-201 to Corporate Governance Guidelines
The regulator amends Policy Statement 58-201 to Corporate Governance Guidelines to clarify that the guidelines are non-prescriptive and to update gender-neutral language throughout the document. The amendments introduce new requirements for nominating committees to manage board succession, adopt composition matrices, and establish written nomination policies based on objective criteria. Additionally, the document mandates written diversity policies with measurable targets for board and executive officer positions, while repealing previous sections on board assessment and director independence.
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