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ARTICLE · 08 APRIL 2015

Board Diversity Update: Is Female Board Representation On The Rise?

Norton Rose Fulbright Canada LLP
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Nearly seven months have passed since the formal amendments to National Instrument 58-101 – Disclosure of Corporate Governance Practices and Form 58-101F1- Corporate Governance Disclosure were announced by securities regulators, imposing enhanced disclosure requirements with respect to female representation on boards.

CanadaCorporate/Commercial Law
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Nearly seven months have passed since the formal amendments to National Instrument 58-101 – Disclosure of Corporate Governance Practices and Form 58-101F1- Corporate Governance Disclosure were announced by securities regulators, imposing enhanced disclosure requirements with respect to female representation on boards (the Gender Disclosure Requirements). Although the new requirements do not mandate quotas, they impose stringent disclosure obligations on TSX-listed issuers.

With International Women's Day just behind us, just how well are Canadian companies doing with gender diversity?

The Canadian Board Diversity Council's 2014 Annual Report Card (the Report Card) shows that there has been some progress: in 2014, women held 17.1 % of FP500 board seats, up from 15.6% in 2013. The industries with the most gender diversity on boards (greater than 20%) were the Arts, Entertainment and Recreation, Utilities, Finance and Insurance, Retail/Trade and Information. Those

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