Canadian securities regulators announce results of seventh annual review of representation of women on boards and in executive officer positions in Canada

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Nov 04, 2021

On November 4, 2021, participating Canadian securities regulatory authorities published the results of their seventh annual review of disclosures relating to women on boards and in executive officer positions, and provided new guidance to help improve the consistency and comparability of this disclosure.

The notice, which was published by securities regulatory authorities in Alberta, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Quebec, Saskatchewan and Yukon (the participating jurisdictions), details review findings from the corporate governance disclosures of 599 non-venture issuers. The notice also outlines new guidance that recommends issuers present certain data related to representation, targets and term limits in a common tabular format to make it easier for investors to identify and evaluate the information.

A few key highlights of the year-over-year findings:

  • Twenty-two per cent of total board seats are occupied by women, representing an 11 per cent increase since 2015.
  • Eighty-two per cent of issuers have at least one woman on their board, reflecting an increase of 33 per cent over the past seven years.
  • Six per cent of issuers have a female chair of their board.
  • Sixty per cent of issuers have adopted a policy relating to the representation of women on their board, marking a 45 per cent increase since the existing framework was adopted in 2014.

Review the press release on the CSA's website and the report on the OSC's website.

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