CIRI Comments on the Consultation Paper on the Ontario Securities Act

CIRI submitted comments to the Capital Markets Modernization Taskforce on their Consultation Paper on the Ontario Securities Act. This Consultation Paper aims to modernize the Act to foster vibrant capital markets that are driven by innovation, competition and diversity.

We are supportive of this initiative and many of the proposals outlined in the Consultation Paper including: the option for semi-annual reporting; an alternate offering model; access equals delivery; consolidating reporting requirements; expediting the SEDAR+ project; improving board diversity; a regulatory framework for proxy advisory firms; decreasing the early warning reporting threshold from 10% to 5%; adopting quarterly filing requirements for institutional investors; a mandatory annual advisory shareholders’ vote on executive compensation; rules to prevent over-voting; eliminating the NOBO andOBO status; and more.

To read the full submission, click here.
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