Sunday, December 21st2.3°C
24124
23943

OSC: TSX-listed issuers should reveal goals for number of high-ranking women

TORONTO - Canada's largest provincial securities commission is proposing that TSX-listed businesses be required to disclose targets for the number of women in high-ranking positions as directors and executive officers.

That's one of several measures that the Ontario Securities Commission is suggesting to tap an "under-represented" group of talent.

The OSC also is proposing that companies disclose how they find candidates for those positions and how they pick members of their board and high-ranking executives.

The proposals are subject to a 90-day comment period ending on April 16. The commission has already heard from the public in an earlier round of preparations for a change to corporate practices.

The recommendations released Thursday don't mention enforcing hard quotas — something some observers said was the only way to enforce change.

The Ontario Teachers' Pension Plan, for instance, had said it wanted to see at least three women on every corporate board of nine or 10 members by 2020, or have the company delisted on the exchange.

But some companies fear that if a quota system was imposed, they may be forced to promote unqualified candidates solely to meet gender requirements.

The OSC says the changes, which will work on a "comply or explain'' policy, will help bridge a gender gap in corporate Canada.

The policy means publicly-traded companies will be required to annually report their internal targets and progress — and be questioned if they refuse to comply.

"Our proposed amendments are intended to encourage more effective boards and better corporate decision making, which will benefit investors and the capital markets," said OSC chair Howard Wetston.

"This is about helping TSX-listed issuers tap into a pool of talented and capable resources currently under-represented on today's boards and senior management."

The Canadian Press


Read more Business News

21297


Recent Trending




Today's Market
S&P TSX14468.26+121.51
S&P CDNX676.54+11.04
DJIA17804.8026.65
Nasdaq4765.38+16.983
S&P 5002070.65+9.42
CDN Dollar0.8618+0.0001
Gold1197.20+2.50
Oil56.50+2.39
Lumber336.20-0.70
Natural Gas3.446-0.196

 
Okanagan Companies
Pacific Safety0.12-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.25-0.03
Cantex0.03-0.005
Anavex Life Sciences0.1726+0.0026
Metalex Ventures0.05-0.005
Russel Metals25.58-0.42
Copper Mountain Mining1.55-0.02
Colorado Resources0.120.00
ReliaBrand Inc0.011-0.0089
Sunrise Resources Ltd0.05-0.005
Mission Ready Services0.215-0.01

 
24130


24153

FEATURED Property
2149814672 Almandine Court
5 bedrooms 5 baths
$1,349,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


My final thoughts on real estate

This will be the last column I write on real estate. Largely because at the end of the year I will be handing in my license. After 20+ years of working in land development, resort development and rea...


Reflecting on the end of the year

The importance of the end of the year and the Christmas holidays is profound. It is a time to reconnect with family and traditions that have made us who we are. But the year-end has always been a time...


Parenthood: Estates, insurance & taxes

It is now even more important to ensure your loved ones are well looked if anything should happen to you. Here are a few topics to consider helping you prepare for some of the unexpected events that c...

_



24386

24437


Member of BC Press Council


24604