March 31 Deadline For Comments On OSC Staff Notice 54-701 Regulatory Developments Regarding Shareholder Democracy Issues

March 31 is the deadline for comments to the OSC on the questions it raised in OSC Staff Notice 54-701 Regulatory Developments Regarding Shareholder Democracy Issues (the "Staff Notice").  In summary, the Staff Notice asks for comments on the following issues:

• whether reforms to securities laws are appropriate to facilitate individual director and majority voting for director elections of reporting issuers;
• whether a shareholder advisory vote on executive compensation (Say-on-Pay) should be mandated; and
• the effectiveness of the proxy voting system in Canada.

A copy of the Staff Notice is available at:
http://www.osc.gov.on.ca/en/SecuritiesLaw_rule_20110110_54-701_reg-proposal.htm