5 Key Developments in Canadian Corporate Governance Rules in 2017

In 2017, Canadian legislators, regulators, and stock exchanges have implemented—or taken steps toward implementing—new rules and guidance in a number of areas relating to public company governance. As the year winds down, our Canadian Special Situations team reviews five key legal and regulatory developments in 2017, and what they mean for Canadian public companies.

Changes to corporate statutes

If CBCA and OBCA amendments pass, more issuers will be required to adopt majority voting, annual, individual election of directors, and diversity disclosure—if they have not already.

The past year has seen significant steps to amend both the Federal and Ontario corporate statues. If implemented, the main practical effect of the proposed amendments to the Canada Business Corporations Act (CBCA) and Ontario Business Corporations Act (OBCA) would be to require all Federal and Ontario public companies to adhere to majority voting, annual, individual elections