Extension of Consultation Period 25-401: Potential Regulation of Proxy Advisory Firms

The Canadian Securities Administrators This link will open in a new window are announcing that they are extending the comment period on the Potential Regulation of Proxy Advisory Firms to September 21, 2012.

This paper discusses certain concerns raised about the services provided by proxy advisory firms and their potential impact on Canadian capital markets and considers whether, and how, these concerns should be addressed by Canadian securities regulators.  The comment period is scheduled to close on August 20, 2012.  We have received feedback from several stakeholders that it would be beneficial for stakeholders to have additional time to review the Consultation Paper and prepare comments.