Thursday, August 28th19.2°C
22663
22156

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

22965


Recent Trending




Today's Market
S&P TSX15558.17-44.48
S&P CDNX1022.373.03
DJIA17079.57-42.44
Nasdaq4557.695-11.927
S&P 5001996.74-3.38
CDN Dollar0.9208+0.0001
Gold1281.70-2.1001
Oil94.51-0.04
Lumber349.40+2.40
Natural Gas3.965+0.054

 
Okanagan Companies
Pacific Safety0.195-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.190.00
Cantex0.08+0.01
Anavex Life Sciences0.240.00
Metalex Ventures0.075-0.005
Russel Metals36.39-0.21
Copper Mountain Mining2.91-0.05
Colorado Resources0.180.00
ReliaBrand Inc0.099-0.016
Sunrise Resources Ltd0.0250.00
Mission Ready Services0.25+0.01

 



22870

FEATURED Property
1953754633 Fuller Ave.
2 bedrooms 3 baths
$625,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


How much mortgage should you carry?

There are several things to consider when deciding how much home to buy. 1. Draw up a budget including the new mortgage payments. While the rules used by most lenders require that the mortgage paym...


What is a journey without a destination?

Photo: ContributedI would call it a joy ride... You see a planned project or business has a destination. It may be an ongoing revenue stream, it may be a business value or an exit strategy. If you don...


Joint accounts: what you need to know!

Establishing a joint account may seem like a great strategy at first glance. However, there are many factors that must be considered before taking this action. This article will explore the use of &ls...

_








Member of BC Press Council


22707