MONTREAL, April 30, 2015 /CNW Telbec/ - The Canadian Securities Administrators (CSA) today adopted National Policy 25-201 Guidance for Proxy Advisory Firms (the Policy).
"The Policy recommends best practices that are intended to address the concerns of market participants while recognizing that proxy advisory firms play an important role in the voting process," said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. "We have taken into consideration the points of view of all stakeholders, including institutional investors and issuers, and we are confident that we have reached a good solution."
The Policy provides guidance on recommended practices and disclosure for proxy advisory firms to promote transparency in the services they provide to clients and to foster an understanding among market participants about proxy advisory activities.
The guidance addresses the identification, management and mitigation of actual or potential conflicts of interest; the transparency and accuracy of vote recommendations; the development of proxy voting guidelines; and communications matters.
The Policy is available on CSA members' websites.
The CSA, the council of the securities regulators of Canada's provinces and territories, coordinate and harmonize regulation for the Canadian capital markets.
For more information:
| Sylvain Théberge 514-940-2176 |
Alison Trollope Alberta Securities Commission 403-297-2664 |
| 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 |
Andrew Nicholson Financial and Consumer Services Commission New Brunswick 506-658-3021 |
| Tanya Wiltshire Nova Scotia Securities Commission 902-424-8586 |
Janice Callbeck PEI Securities Office Office of the Attorney General 902-368-6288 |
| Don Boyles Financial Services Regulation Div. Newfoundland and Labrador 709-729-4501 |
Rhonda Horte Office of the Yukon Superintendent of securities 867-667-5466 |
| Louis Arki Nunavut Securities Office 867-975-6587 |
Gary MacDougall Northwest Territories Securities Office 867-873-7490 |
| Shannon McMillan Financial and Consumer Affairs Authority of Saskatchewan 306-798-4160 |
SOURCE Autorité des marchés financiers
Sylvain Théberge, Autorité des marchés financiers, 514-940-2176; Alison Trollope, Alberta Securities Commission, 403-297-2664; 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; Andrew Nicholson, Financial and Consumer Services Commission, New Brunswick, 506-658-3021; Tanya Wiltshire, Nova Scotia Securities Commission, 902-424-8586; Janice Callbeck, PEI Securities Office, Office of the Attorney General, 902-368-6288; Don Boyles, Financial Services Regulation Div., Newfoundland and Labrador, 709-729-4501; Rhonda Horte, Office of the Yukon Superintendent of securities, 867-667-5466; Louis Arki, Nunavut Securities Office, 867-975-6587; Gary MacDougall, Northwest Territories, Securities Office, 867-873-7490; Shannon McMillan, Financial and Consumer Affairs, Authority of Saskatchewan, 306-798-4160
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