CSA Issues Progress Report On Its Review Of Proxy Voting Infrastructure

The Canadian Securities Administrators (CSA) recently provided an update on their ongoing review of proxy voting infrastructure. The progress report follows the publication of CSA Consultation Paper 54-401 Review of the Proxy Voting Infrastructure in August 2013 (the Consultation Paper).

The Consultation Paper examined two issues: (i) the accuracy of vote reconciliation in the current proxy voting infrastructure; and (ii) what type of shareholder communication (end-to-end vote confirmation) should be added to the proxy voting infrastructure to allow shareholders to confirm that their proxy votes and voting instructions have been property transmitted, received and tabulated.