June 19, 2015
Canadian Business has written a summary article on the firm’s "Women in the C-Suite: Can Securities Law Advance Gender Equality?" study released as part of our annual publication Capital Markets Mid-Year Report. The study, by co-authors Rima Ramchandani, Glen Johnson and Michele Cousens, examines public companies’ response to new gender diversity rules, surveying Canadian proxy circulars issued on or before May 10. Below is an excerpt of the article.
Last December, the Ontario Securities Commission introduced new rules that requires firms to disclose the percentage of women on their boards and in executive positions. Seven jurisdictions across the country signed on and the regulator was praised for its “comply or explain” approach.
Six months later, the results are in from a new study commissioned by international business law firm Torys LLP, which examines the impact of the disclosure rules on the Canadian corporate landscape.
For the study, Torys’ researchers analyzed all the proxy circulars filed in 2015 (up until to May 10) from 179 companies listed on the S&P/TSX index (or 71% of the index).
To read the full article, click here.
Read our Capital Markets Mid-Year Report 2015 here.