New corporate governance rules will take effect at the end of the month, the Ontario Securities Commission reports.

On May 31, the minister responsible for securities regulation in Ontario, the Chair of the Management Board of Cabinet approved new rules regarding the disclosure of corporate governance practices and the role and composition of audit committees.

The disclosure rule and corporate governance guidelines were published on April 15, as were the audit committee amendments. They will come into force in Ontario on June 30, it notes.