Expanded Diversity Disclosure Requirements In 2020 Under The CBCA

Beginning on January 1, 2020, all public corporations incorporated under the Canada Business Corporations Act (the CBCA) will be subject to expanded diversity disclosure requirements. These new requirements go well beyond the current diversity disclosure requirements regarding women on boards under National Instrument 58-101 Disclosure of Corporate Governance Practices and Form 58-101F1 Corporate Governance Disclosure (the Current Securities Law Regime). To comply with these new requirements, federally incorporated public companies (including venture issuers) will be required to provide specific information about internal policies and board representation to shareholders either by sending along with the notice of meeting or by making this available with the proxy circular at their next annual meeting held on or after January 1, 2020. This information must also be sent to the Canadian Ministry of Industry.