On April 24, 2014, the Canadian Securities Administrators (CSA) published for comment proposed National Policy 25 201 Guidance for Proxy Advisory Firms (the Proposed Policy). The Proposed Policy follows a public consultation by the CSA, which began in June 2012 with Consultation Paper 25-401 Potential Regulation of Proxy Advisory Firms. The consultation identified certain concerns raised in the marketplace about the activities of proxy advisory firms such as Institutional Shareholder Services Inc. and Glass, Lewis & Co. and the potential impact on Canadian markets, and if and how such concerns should be addressed by the CSA.
Check out Norton Rose Fulbright's legal bulletin on this topic for more information.
Norton Rose Fulbright Canada LLP
Norton Rose Fulbright is a global legal practice. We provide the world's pre-eminent corporations and financial institutions with a full business law service. We have more than 3800 lawyers based in over 50 cities across Europe, the United States, Canada, Latin America, Asia, Australia, Africa, the Middle East and Central Asia.
Recognized for our industry focus, we are strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare.
Wherever we are, we operate in accordance with our global business principles of quality, unity and integrity. We aim to provide the highest possible standard of legal service in each of our offices and to maintain that level of quality at every point of contact.
Norton Rose Fulbright LLP, Norton Rose Fulbright Australia, Norton Rose Fulbright Canada LLP, Norton Rose Fulbright South Africa (incorporated as Deneys Reitz Inc) and Fulbright & Jaworski LLP, each of which is a separate legal entity, are members ('the Norton Rose Fulbright members') of Norton Rose Fulbright Verein, a Swiss Verein. Norton Rose Fulbright Verein helps coordinate the activities of the Norton Rose Fulbright members but does not itself provide legal services to clients.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.