Tag archives: National Instrument 58-101

Management diversity: will targets and quotas improve gender diversity?

On October 5, 2017, the Canadian Securities Administrators (CSA) released Staff Notice 58-309 (Staff Notice) reporting findings of a review carried out by various Canadian securities regulators of disclosure regarding women on boards and in executive officer positions by TSX issuers, as prescribed in National Instrument 58-101 Disclosure of Corporate Governance Practices. We previously reported on the introduction of disclosure requirements in 2014.

The findings are generally positive, and have shown that gender diversity of boards is improving. The review has found that the total board seats occupied by women has increased from 11% in … Continue Reading

Management diversity: Do women in management lower a firm’s risk profile?

In an earlier post, we commented on the formal amendments to National Instrument 58-101 Disclosure of Corporate Governance Practices and Form 58-101F1- Corporate Governance Disclosure imposing enhanced disclosure requirements with respect to female representation on the boards and in executive officer positions of TSX-listed issuers.  As we discussed earlier this year, the correlation between gender diversity on boards and company performance is compelling from an investment value perspective.

It is also beneficial for issuers to recruit women into upper management roles. In a recent academic study examining management diversity, “Do Women Stay Out of Trouble”, the … Continue Reading

Board diversity update: Is female board representation on the rise?

Nearly seven months have passed since the formal amendments to National Instrument 58-101 Disclosure of Corporate Governance Practices and Form 58-101F1- Corporate Governance Disclosure were announced by securities regulators, imposing enhanced disclosure requirements with respect to female representation on boards (the Gender Disclosure Requirements). Although the new requirements do not mandate quotas, they impose stringent disclosure obligations on TSX-listed issuers.

With International Women’s Day just behind us, just how well are Canadian companies doing with gender diversity?

The Canadian Board Diversity Council’s 2014 Annual Report Card (the Report Card) shows that there has been some progress: in … Continue Reading

Enhanced Disclosure Requirements on Women in the Boardroom

The securities regulators in 7 provinces and 2 territories announced on Wednesday, October 15, 2014, that the final version of the amendments to National Instrument 58-101 Disclosure of Corporate Governance Practices (NI 58-101) and Form 58-101F1 Corporate Governance Disclosure (Form 58-101F1) would include stringent requirements pertaining to female representation on boards and in executive officer positions. Securities regulators in Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Quebec and Saskatchewan have all signed on to the long-awaited amendments.

Disclosure Requirements

The enhanced disclosure requirements pertaining to females on boards, while significant, … Continue Reading

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