On May 14, 2025, the Canadian Securities Administrators (CSA) announced Coordinated Blanket Order 45-935 – Exemption from Certain Conditions of the Listed Issuer Financing Exemption (Blanket Order) aimed at enhancing...more
The latest edition of Davies’ Governance Insights is now available. In this issue, we review 10 developments that general counsel and directors of Canadian public companies, and their investors, should know for 2025 and...more
With the most recent release of their annual review of disclosure regarding women on boards and in executive officer positions at Toronto Stock Exchange-listed issuers, the Canadian Securities Administrators have now...more
The Canadian Securities Administrators (CSA) recently published its 10th annual Review of Disclosure Regarding Women on Boards and in Executive Officer Positions (Year 10 Report) (the Review). The Review outlines the CSA's...more
According to a recent Canadian Securities Administrators (CSA) report, gender diversity on boards is improving but continues to face hurdles. For the 10th year in a row, the proportion of board seats women hold at public...more
In a recent decision, Kraft (Re) (Kraft), the Ontario Capital Markets Tribunal (the Tribunal) articulated clear guidance with respect to the application of the necessary course of business (NCOB) exception to the prohibition...more
The Canadian Securities Administrators (“CSA”) have released their annual review of disclosure regarding women on boards and in executive officer positions at Toronto Stock Exchange-listed issuers, showing positive trends in...more
The Canadian Securities Administrators (CSA) are currently seeking public comment on proposed amendments and changes to the disclosure requirements for reporting issuers not listed on the TSX Venture Exchange or the Canadian...more
Selon les Autorités canadiennes en valeurs mobilières (les « ACVM »), la proportion de femmes siégeant au conseil d’administration de sociétés ouvertes canadiennes a continué d’augmenter, pour la 8e année consécutive....more
The Canadian Securities Administrators (CSA) recently published its eighth annual Review of Disclosure Regarding Women on Boards and in Executive Officer Positions (Year 8 Report) (the Review). The Review outlines the CSA's...more
According to the Canadian Securities Administrators (CSA), the proportion of board seats held by women at Canadian public companies has incrementally increased again, for the eighth year in a row. However, the advancement of...more
Bien que certains progrès se soient réalisés au chapitre de la diversité des genres dans les conseils d’administration et les postes de haute direction de sociétés ouvertes canadiennes, ces progrès s’accomplissent lentement....more
While some progress is being made in adding gender diversity to boards and executive officer positions of Canadian public companies, progress remains slow, as found by the Canadian Securities Administrators (CSA) in their...more
The Canadian Securities Administrators (CSA) has published the seventh annual Review of Disclosure Regarding Women on Boards and in Executive Officer Positions. The participating jurisdictions from the previous...more
Le nombre de femmes siégeant à des conseils d’administration de sociétés ouvertes canadiennes a connu une augmentation constante au cours des dernières années. Toutefois, le processus global entourant les nominations au sein...more
The number of women on boards of Canadian public companies has steadily risen in recent years; however, the overall process of “getting on board” with the advancement of gender diversity remains a gradual one, as found by the...more
Institutional Shareholder Services ("ISS") and Glass, Lewis & Co ("Glass Lewis") have both released their updates to their respective Canadian proxy voting guidelines for the 2020 proxy season. The ISS updates apply to...more
The number of women on boards and in executive positions has risen compared to last year, but progress on gender diversity remains slow, the Canadian Securities Administrators (CSA) have found in their recently published CSA...more
The Canadian Securities Administrators (CSA) have received formal submissions (Submissions) on Consultation Paper 52-404 – Approach to Director and Audit Committee Member Independence (Consultation Paper) from 27...more
The Canadian Securities Administrators (CSA) have released CSA Consultation Paper 52-404 – Approach to Director and Audit Committee Member Independence (Consultation Paper) and are inviting comments on the current approach to...more
The Canadian Securities Administrators (CSA) recently published CSA Multilateral Staff Notice 58-309 Staff Review of Women on Boards and in Executive Officer Positions – Compliance with NI 58-101 Disclosure of Corporate...more
On October 5, 2017, the Canadian Securities Administrators (CSA) published CSA Multilateral Staff Notice 58-309 – Staff Review of Women on Boards and in Executive Officer Positions – Compliance with NI 58-101 Disclosure of...more
The Ontario Government has announced a target that women comprise at least 40 percent of appointments to provincial boards and agencies by 2019 and is encouraging businesses to set gender diversity targets for their boards of...more
On September 28, 2015, the Canadian Securities Administrators (CSA) released a staff notice summarizing the findings from its review of the corporate governance disclosure of non-venture issuers related to policies regarding...more