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ARTICLE · 11 JULY 2012

OSC To "Advocate" For Director Election Reforms

Blake, Cassels & Graydon LLP
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The Ontario Securities Commission (the OSC) recently released OSC Notice 11-767.

CanadaCorporate/Commercial Law
Matthew Merkley
Matthew Merkley
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The Ontario Securities Commission (the OSC) recently released OSC Notice 11-767 – Notice of Statement of Priorities for Financial Year to End March 31, 2013 (the Priorities Notice), which provides, among other things, an update on the OSC's intentions concerning potential reforms to the regulation of director elections of Ontario reporting issuers.

Background on the Priorities Notice

The Securities Act (Ontario) (the OSA) requires the OSC to deliver to the Minister of Finance (Ontario) by June 30th of each year a statement setting out the OSC's priorities for its current financial year ended March 31st, in connection with the administration of securities laws in Ontario, with a summary of the reasons for the adoption of the priorities.

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