The CSA says it will seek comment on proposed new rules modelled on nearly a decade-old regulations on gender diversity
Canadian securities regulators want companies to provide more disclosure on their diversity – but the provinces seem deeply divided on what to require., an umbrella group for provincial securities commissions, said Thursday it will seek comment on proposed new rules modelled on nearly a decade-old regulations on gender diversity.
The other proposal does not require companies to disclose diversity numbers. Instead, a company would only be required to describe its chosen diversity objectives and how it would measure progress. If an issuer collects data on specific groups “relevant to its approach to diversity,” the data would need to be disclosed, but no specific table or format would be required by regulators.
The second approach, the CSA says, “is based on a view that securities regulators should not select categories of diversity, other than women, preferring to leave that to the issuer’s determination as to what aspects of diversity are most beneficial to that issuer in advancing its business and strategy. In other words, a less prescriptive approach.
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