Canadian securities regulators to hold upcoming consultations on broader diversity in corporate leadership

Montreal – The Canadian Securities Administrators (CSA) announced today further research and consultations with issuers, investors and other industry stakeholders on its consideration of broader diversity on boards and in executive officer positions. These consultations are set to begin in the late spring/summer of 2021.

This work will help determine whether, and how, the disclosure needs of Canadian investors, and corporate governance practices among public companies have evolved since the “women on boards” disclosure requirements were first adopted in most CSA jurisdictions. The research and consultations are particularly important in light of the increasing attention being given to diversity in all segments of society, including business.

“In the past six years, the CSA has published comprehensive and relevant information on the representation of women on boards and representation at the executive level,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “Consultation and engagement with stakeholders will help determine the right path forward with respect to a broader diversity initiative.”

The CSA hopes to gather a wide range of perspectives to inform further policy-making in this area. Participating jurisdictions plan to conduct engagement activities with stakeholders, which may include one-on-one meetings and roundtables. The CSA will use its findings from these consultations to consider recommendations for any necessary changes to the current diversity disclosure framework.

The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

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Source: OCC

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