June 13, 2014 CSA Securities

The Canadian Securities Administrators This link will open in a new window are announcing that they are extending the comment period on the Draft Notice 25-201 relating to Guidance for Proxy Advisory Firms (Draft Notice) from June 23, 2014 to July 23, 2014.

The CSA is proposing a policy-based approach, providing 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 CSA is seeking feedback on the Draft Notice generally and on specific questions.

We have received feedback from some stakeholders that it would be beneficial for all stakeholders to have additional time to properly review and assess the Proposed Policy and prepare comments.