CSA Adopts National Policy on Guidance for Proxy Advisory Firms
|Lawyer||Jonathan Feldman, Eric Goldberg, Neill May|
|Area||Corporate Finance and Securities|
The Canadian Securities Administrators (CSA) have announced that they are adopting a policy providing guidance to proxy advisory firms, which have an influential role in public securityholder voting contexts. National Policy 25-201 Guidance for Proxy Advisory Firms (NP 25-201) provides guidance on recommended practices and disclosure for proxy advisory firms, in order to: (i) promote transparency in the processes leading to vote recommendations and the development of proxy voting guidelines; and (ii) foster understanding among market participants about the activities of proxy advisory firms.