CSA Reports A Correlation Between Diversity Targets And Women Representation On Boards

More women are holding board seats of Canadian public companies, reports the Canadian Securities Administrators ("CSA") in their CSA Multilateral Staff Notice 58-314 Review of Disclosure Regarding Women on Boards and in Executive Officer Positions (the "Notice"). While progress was made on female representation both on boards and in the C-Suite, the overall pace of change continues to be a gradual one.

Eighth-Year Review Results

The Notice continues the review of "comply or explain" disclosure of female representation on boards and in executive positions, as required by Form 58-101F1 Corporate Governance Disclosure. The trends reported by the CSA for 625 non-venture issuers with financial year-ends between December 31, 2021 and March 31, 2022 are generally positive, with more women holding board seats every year since the first review in 2015. However, progress in the C-Suite continues to be very slow. Data from the Notice shows that while 70 per cent of