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Canadian Securities Regulators Publish Final Proxy Voting Protocols

  • Securities - CSA Image

Jan 26, 2017

On January 26, 2017, the Canadian Securities Administrators (CSA) published CSA Staff Notice 54-305 "Meeting Vote Reconciliation Protocols," which outlines CSA staff expectations and guidance for improving the processes involved in the tabulation of proxy votes.

The voluntary protocols outline CSA staff expectations related to generating and sending vote entitlement information; setting up vote entitlement accounts; sending proxy vote information and tabulating and recording proxy votes; and informing beneficial owners of any rejected or pro-rated votes.

Over the next two proxy seasons, the CSA will monitor the implementation of the protocols and assess the need for any enhanced regulatory measures. The CSA will also continue to encourage and monitor industry initiatives for paperless meeting vote reconciliation and end-to-end vote confirmation. CSA staff will receive ongoing input on these areas from a technical committee made up of representatives from key service providers involved in the proxy voting process.

Review the press release and the Staff Notice on the CSA's website.

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