Beginning in the new year, public companies (including venture
issuers) incorporated under the Canada Business Corporations Act (CBCA)
will be required to include expanded diversity information about
their boards and senior management teams in their annual proxy
circulars presented to shareholders.
Disclosure Requirements
The changes to disclosure requirements, implemented pursuant to
recent amendments to the CBCA and Canada Business Corporations Regulations,
2001 (CBCR) (as previously discussed
here), are intended to enhance transparency and improve the
information available to investors, as well as to foster a
conversation between management and shareholders on diversity
issues. As such, effective January 1, 2020, CBCA corporations will
be required to place the following information before their
shareholders at every annual meeting:
