In March 2022, the Dentons Securities and Corporate Finance group published Dentons 2022 proxy season guide. Almost a year later, we are coming back with the new Guide focusing on the developments over the course of the 12 months prior to February 2023, with reminders about continuing developments and future matters.

I. New developments

• Bill C-25 – Amendments to the Canada Business Corporations Act
• Proxy advisory firm updates: Institutional Shareholder Services and Glass, Lewis & Co.

II. Continuing developments

• Diversity developments
• Environmental, social and governance (ESG) developments
• Ontario's Capital Markets Act
• New self-regulatory organization replaces the Mutual Fund Dealers Association of Canada and the Investment Industry Regulatory Organization of Canada
• Virtual shareholder meetings

III. Upcoming developments

• SEDAR+
• Changes to climate disclosure

IV. Possible developments

• Recommendations from the Capital Markets Modernization Taskforce Final Report
• Access equals delivery
• Changes to National Instrument 43-101– Consultation exercise underway

Please click here to access the Dentons 2023 Proxy Season Guide. For the French version, please click here.

* This guide was co-authored by Mark Kopitar (Senior Associate), Leigh-Anne Norris (Senior Associate), Ana Cherniak-Kennedy (Associate), and Diana Horsman Nakka (Knowledge and Legal Operations Lawyer), with assistance from Jaskaran Grewal and Rachel Kuchma (Articling Students).