Canadian securities regulators seek comment on approach to determining director and audit committee member independence

MONTREAL, Oct. 26, 2017 /CNW Telbec/ - The Canadian Securities Administrators (CSA) today published for comment CSA Consultation Paper 52-404 Approach to Director and Audit Committee Member Independence, which is intended to facilitate a broad discussion on the appropriateness of the CSA's approach to determining director and audit committee member independence.

"The exercise of independent judgement by boards and board committees is a fundamental element of corporate governance," said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. "The purpose of this consultation is to solicit views on the appropriateness of our approach to determining independence for all issuers in the Canadian market."

The Consultation Paper outlines key historical developments related to the CSA's corporate governance regime, sets out our approach to determining director and audit committee member independence, and describes the approaches to determining independence in other jurisdictions. The Consultation Paper also examines the benefits and limitations of our approach.

The Consultation Paper can be found on CSA members' websites. Comments should be submitted in writing by January 25, 2018.

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

For more information:
Sylvain Théberge	Kristen Rose
Autorité des marchés financiers	Ontario Securities Commission
514-940-2176	416-593-2336
Hilary McMeekin	Alison Walker
Alberta Securities Commission	British Columbia Securities Commission
403-592-8186	604-899-6713
Jason (Jay) Booth	David Harrison
Manitoba Securities Commission	Nova Scotia Securities Commission
204-945-1660	902-424-8586
Shannon McMillan	Erin King
Financial and Consumer Affairs	Financial and Consumer Services
Authority of Saskatchewan	Commission, New Brunswick
306-798-4160	506-643-7045
Janice Callbeck	John O'Brien
Office of the Superintendent of	Office of the Superintendent of
Securities, P.E.I.	Securities, Newfoundland and Labrador
902-368-6288	709-729-4909
Rhonda Horte	Tom Hall
Office of the Yukon Superintendent	Office of the Superintendent of Securities,
of Securities	Northwest Territories
867-667-5466	867-767-9305
Jeff Mason
Nunavut Securities Office
867-975-6591

SOURCE Autorité des marchés financiers

Sylvain Théberge, Autorité des marchés financiers, 514-940-2176; Kristen Rose, Ontario Securities Commission, 416-593-2336; Hilary McMeekin, Alberta Securities Commission, 403-592-8186; Alison Walker, British Columbia Securities Commission, 604-899-6713; Jason (Jay) Booth, Manitoba Securities Commission, 204-945-1660; David Harrison, Nova Scotia Securities Commission, 902-424-8586; Shannon McMillan, Financial and Consumer Affairs, Authority of Saskatchewan, 306-798-4160; Erin King, Financial and Consumer Services Commission, New Brunswick, 506-643-7045; Janice Callbeck, Office of the Superintendent of Securities, P.E.I., 902-368-6288; John O'Brien, Office of the Superintendent of Securities, Newfoundland and Labrador, 709-729-4909; Rhonda Horte, Office of the Yukon Superintendent of Securities, 867-667-5466; Tom Hall, Office of the Superintendent of Securities, Northwest Territories, 867-767-9305; Jeff Mason, Nunavut Securities Office, 867-975-6591

Related Links

www.lautorite.qc.ca