• Notice and Access: Proposed Amendments to Rules Governing the Transmission of Proxy Related Materials to Shareholders
  • October 10, 2011 | Authors: Yaniv Saragosti; David Surat
  • Law Firms: Borden Ladner Gervais LLP - Montreal Office ; Borden Ladner Gervais LLP - Toronto Office
  • On June 17, 2011, the Canadian Securities Administrators (the CSA) published for comment revised proposed amendments to National Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer (NI 54-101), National Instrument 51-102 Continuous Disclosure Obligations (NI 51-102) and their respective companion policies (collectively, the Revised Proposed Amendments). The main feature of the proposed amendments is called notice and access (Notice & Access), which provides reporting issuers, other than investment funds, with a new mechanism to transmit proxy-related materials to registered holders and beneficial owners of its securities. The comment period for the Revised Proposed Amendments ended on August 16, 2011 and the CSA is currently considering the comments.