Canadian securities regulators provide an update regarding the consultation on proxy adviser firms Français
MONTREAL, Sept. 19, 2013 /CNW Telbec/ - The Canadian Securities Administrators (CSA) today published CSA Notice 25-301 Update on CSA Consultation Paper 25-401 Potential Regulation of Proxy Advisory Firms, which provides an update to market participants on the status of the consultation.
On June 21, 2012, the CSA published for comment Consultation Paper 25-401 to provide a forum for discussion of certain concerns raised about the services provided by proxy advisory firms and the potential impact on Canadian capital markets. The consultation process also allowed the CSA to determine if, and how, it should address these concerns.
The comment period ended on September 21, 2012. The CSA received 62 comment letters containing comprehensive feedback from various market participants.
After an extensive review of the comments received, the CSA has concluded that a policy-based approach providing guidance on recommended practices and disclosure for proxy advisory firms will improve transparency and understanding among market participants.
The CSA intends to publish its proposed approach for comment in the first quarter of 2014.
CSA Notice 25-301 is available on CSA members' websites.
The CSA, the council of the securities regulators of Canada's provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets.
For more information:
| Sylvain Théberge Autorité des marchés financiers 514-940-2176 |
Mark Dickey Alberta Securities Commission 403-297-4481 |
| Richard Gilhooley British Columbia Securities Commission 604-899-6713 |
Carolyn Shaw-Rimmington Ontario Securities Commission 416-593-2361 |
| Kevan Hannah Manitoba Securities Commission 204-945-1513 |
Wendy Connors-Beckett Financial and Consumer Services Commission New Brunswick 506-643-7745 |
| Tanya Wiltshire Nova Scotia Securities Commission 902-424-8586 |
Janice Callbeck PEI Securities Office Office of the Attorney General 902-368-6288 |
| Doug Connolly Financial Services Regulation Div. Newfoundland and Labrador 709-729-2594 |
Rhonda Horte Office of the Yukon Superintendent of securities 867-667-5466 |
| Louis Arki Nunavut Securities Office 867-975-6587 |
Donn MacDougall Northwest Territories Securities Office 867-920-8984 |
| Daniela Machuca Financial and Consumer Affairs Authority of Saskatchewan 306-798-4160 |
SOURCE: Autorité des marchés financiers
Sylvain Théberge
Autorité des marchés financiers
514-940-2176
Richard Gilhooley
British Columbia Securities Commission
604-899-6713
Kevan Hannah
Manitoba Securities Commission
204-945-1513
Tanya Wiltshire
Nova Scotia Securities Commission
902-424-8586
Doug Connolly
Financial Services Regulation Div.
Newfoundland and Labrador
709-729-2594
Louis Arki
Nunavut Securities Office
867-975-6587
Daniela Machuca
Financial and Consumer Affairs
Authority of Saskatchewan
306-798-4160
Mark Dickey
Alberta Securities Commission
403-297-4481
Carolyn Shaw-Rimmington
Ontario Securities Commission
416-593-2361
Wendy Connors-Beckett
Financial and Consumer Services Commission
New Brunswick
506-643-7745
Janice Callbeck
PEI Securities Office
Office of the Attorney General
902-368-6288
Rhonda Horte
Office of the Yukon Superintendent of
securities
867-667-5466
Donn MacDougall
Northwest Territories
Securities Office
867-920-8984
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