The Canadian Securities Administrators (CSA) says its review of proxy voting infrastructure will feature further consultations early next year.
The CSA issued a notice Thursday to update the market on its ongoing consultations into proxy voting issues; particularly concerns about the reliability and integrity of the voting system. Earlier this year it issued a consultation paper on the subject. The comment period on that paper ends on Nov. 13.
Thursday’s notice states that several CSA jurisdictions will also be hosting additional consultations in early 2014. The specific topics to be addressed in those consultations will come from the regulators’ review of the written comments that are submitted on the consultation paper, along with their own deliberations about the issues set out in the paper.
The paper spells out several issues, including: whether the current infrastructure adequately supports accurate and reliable vote counting; and, what type of vote confirmation system will allow shareholders to be confident that their votes have been properly transmitted, received and counted at a shareholder meeting.