Board diversity up, C-suite diversity down in second year of required CBCA disclosure

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Sep 02, 2021

Last year, regulations supporting the amendments to the Canada Business Corporations Act (CBCA) regarding new diversity disclosure obligations for publicly traded corporations came into force. The amendments introduced a “comply or explain” regime whereby CBCA-incorporated publicly traded corporations must disclose, among other things, whether or not they have a diversity policy for their boards of directors and senior management, if the policy includes targets for the representation of four “designated groups” (i.e., women, Indigenous peoples, persons with disabilities and members of visible minorities) and statistics on the representation of these groups.

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