New Gender Diversity And Board Renewal Disclosure Rules

Introduction

In time for the 2015 proxy season, the Canadian Securities Administrators have released amendments to National Instrument 58-101 Disclosure of Corporate Governance Practices and Form 58-101F1 Corporate Governance Disclosure ("Form 58-101F1") which will require TSX-listed companies to disclose certain information relating to the representation of women on boards of directors and in executive officer positions and on mechanisms of board renewal.

The British Columbia and Alberta Securities Commissions did not adopt the new disclosure rules (the "New Rules"). However, because the Ontario Securities Commission adopted the New Rules (which apply to non-venture issuers) and all TSX-listed companies are reporting issuers in Ontario, the New Rules will apply to British Columbia and Alberta companies listed on the TSX.