August 10, 2015
Torys’ report, “Women in the C-Suite: Can Securities Law Advance Gender Equality?”, was referenced in a Globe and Mail article analyzing the “comply or explain” disclosure requirement issued by the Ontario Securities Commission in December 2014. The research-based report, co-authored by Rima Ramchandani, Glen Johnson and Michele Cousens, examines public companies’ response to new gender diversity rules and was released as part of our annual publication Capital Markets Mid-Year Report. Below is an excerpt of the Globe article.
So does transparency work? While it is still very early days for this disclosure requirement, a recent report by Torys LLP indicates that a large proportion of Corporate Canada did not have any policies or initiatives to advance women into leadership roles in their organization. The study included a review of this year’s disclosure of 179 issuers in the S&P/TSX index (71 per cent of the index), and revealed that close to half did not have any policies relating to women on the board. Furthermore, only 13 per cent had adopted any kind of measurable targets.
To read the full article, click here.
To read our Capital Markets Mid-Year Report 2015, click here.