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ARTICLE · 24 MARCH 2010

OSC Issues Staff Notice Regarding Disclosure Of Corporate Governance And Environmental Matters By Reporting Issuers

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The Ontario Securities Commission (the "OSC") has recently issued Staff Notice 51-717 – Corporate Governance and Environmental Disclosure (the "Notice"). The Notice outlines the OSC’s plans regarding disclosure of corporate governance and environmental matters by reporting issuers (other than investment funds).

CanadaFinance and Banking
Robert Chapman
Robert Chapman
Andrew Derksen
Andrew Derksen
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The Ontario Securities Commission (the "OSC") has recently issued Staff Notice 51-717 – Corporate Governance and Environmental Disclosure (the "Notice"). The Notice outlines the OSC's plans regarding disclosure of corporate governance and environmental matters by reporting issuers (other than investment funds).

The Notice was triggered by a unanimous, non-binding resolution adopted by the Ontario Legislature in April 2009, which called on the OSC to undertake a broad consultation to establish best practice corporate social responsibility and environmental, social and governance reporting standards. Accordingly, the OSC embarked on a corporate and sustainability reporting initiative (the "Initiative") in consultation with stakeholders. Focusing on corporate governance and environmental disclosure1, the OSC consulted with various stakeholders including investors, analysts, legal and accounting advisors and the Prospectors and Developers Association, among others.

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