Changes Afoot On The Canadian Governance Front

On September 14, 2016, Alberta's securities regulator published for comment proposed amendments to National Instrument 58-101 Disclosure of Corporate Governance Practices (NI 58-101) and Form 58-101F1 Corporate Governance Disclosure. These changes include new "comply or explain" reporting rules requiring companies to disclose the following in their proxy circular or annual information form:

• Policies regarding the representation of women on the board, if any;
• Whether the board or its nominating committee considers the representation of women in the director identification and selection process;
• Whether the issuer considers the representation of women in executive officer positions when making executive officer appointments;