On April 13, 2023, the Canadian Securities Administrators (the CSA) served up for comment two alternative approaches to updating diversity and director nomination process requirements under Canadian securities laws. The proposed amendments are set out in the form of two alternative proposals, the principal thrust of which is to elicit information regarding how non-venture issuers approach diversity beyond gender and their board nomination process.

In a new report, our Corporate Partner Osler examines the proposals in depth, explaining why neither alternative is likely to satisfy issuers, investors and other stakeholders.

Read the report: Divided on diversity: alternative proposals from Canadian securities regulators to update diversity disclosure requirements