The Toronto Stock Exchange is seeking comments on its corporate governance disclosure guidelines.

The TSX’s board approved changes to the guidelines on March 26. These amendments are in response to recommendations contained in the final report of the Joint Committee on Corporate Governance published in November 2001. It is expected that the amended guidelines will take effect when the Ontario Securities Commission approves them, following a comment period.

The JCCG report contains 15 recommendations, the majority of which propose modifications to the existing TSX Corporate Governance Guidelines introduced in 1995. In response, the TSX is proposing that certain amendments be made to the guidelines. The TSX has also amended the disclosure requirements in the TSX company manual.

The TSX has generally accepted all of the themes underlying the recommendations of the JCCG, with the exception of the independent board leader as a listing requirement. It says that it is not making this change because it prefers disclosure of corporate governance systems rather than legislating corporate governance standards.

Comments should be in writing and delivered by May 31.