Regulatory Alerts2023-04-13
CSA Notice of Publication: Draft Regulation to Amend Regulation 58-101 Respecting Disclosure of Corporate Governance Practices
The Canadian Securities Administrators are proposing amendments to Regulation 58-101 and Policy Statement 58-201 to enhance corporate governance disclosure requirements for non-venture issuers regarding board nominations, renewal, and diversity. The consultation presents two alternative forms for diversity disclosure: Form A allows issuers flexibility to define their own diversity objectives and metrics, while Form B mandates standardized reporting on five designated groups including women, Indigenous peoples, and racialized persons. These changes aim to provide investors with decision-useful information to better understand how diversity integrates into an issuer's strategic decisions and board composition processes.
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