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ARTICLE · 23 APRIL 2010

Amendments Proposed to Improve Proxy Solicitation for Beneficial Owners

Blake, Cassels & Graydon LLP
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The Canadian Securities Administrators (CSA) have proposed changes to the proxy solicitation process.

CanadaFinance and Banking
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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Copyright 2010, Blake, Cassels & Graydon LLP

Originally published in Blakes Bulletin on Securities Regulation, April 2010

The Canadian Securities Administrators (CSA) have proposed changes to the proxy solicitation process. The changes include introducing the concept of providing proxy materials to beneficial owners through notice-andaccess and improving the process by which a beneficial owner can be appointed a proxy holder to attend and vote at a meeting.

The amendments are proposed in a request for comments published with respect to National Instrument 54-101 – Communication with Beneficial Owners of Securities of a Reporting Issuer (NI 54-101) and consequential proposed amendments to National Instrument 51-102 – Continuous Disclosure Obligations and National Policy 11-201 – Delivery of Documents by Electronic Means.

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