Canadian securities regulators provide updated guidance on virtual shareholder meetings

Here is a summary of the document:

Summary:

The Canadian Securities Administrators (CSA) has issued updated guidance on virtual shareholder meetings for reporting issuers. The guidance aims to ensure that shareholders can effectively participate in virtual meetings and exercise their rights. Key responsibilities for reporting issuers include:

1. Providing clear and comprehensive disclosure on how to access and participate in virtual meetings, including registration, authentication, and voting processes.
2. Facilitating shareholder participation by simplifying registration and authentication procedures, allowing shareholders to raise questions and provide direct feedback, and ensuring the Chair is experienced in the virtual meeting platform.

The CSA encourages reporting issuers to follow best practices, consider hybrid meetings, and review corporate legislation and organizing documents. The regulator will continue to monitor virtual shareholder meetings and may issue further guidance as needed.

Document Highlights:

The CSA provides updated guidance on virtual shareholder meetings for reporting issuers.
The guidance aims to ensure shareholder participation and exercise of rights.
Key responsibilities for reporting issuers include disclosure and facilitation of shareholder participation.
The CSA encourages best practices, hybrid meetings, and review of corporate legislation and organizing documents.

Further Assistance:

For investor inquiries, please contact your local securities regulator. For media inquiries, please contact Ilana Kelemen at media@acvm-csa.ca or Debra Chan at media_inquiries@osc.gov.on.ca.