OSC Proposes Rule On Gender Diversity

The Ontario Securities Commission ("OSC") recently published for comment proposed amendments to Form 58-101F1 of National Instrument 58-101 Disclosure of Corporate Governance Practices ("Form 58-101F1").

The proposed amendments would require issuers listed on the Toronto Stock Exchange ("TSX") and other non-venture issuers that are reporting issuers in Ontario to provide annual disclosure regarding:

• director term limits or why there are no such limits;
• policies regarding the representation of women on the board or why there are no such policies;
• the board's or nominating committee's consideration of the representation of women in the director identification and selection process or why there is no such consideration;