MONTREAL, Oct. 26, 2017 /CNW Telbec/ - The Canadian Securities Administrators (CSA) today published for comment CSA Consultation Paper 52-404 Approach to Director and Audit Committee Member Independence, which is intended to facilitate a broad discussion on the appropriateness of the CSA's approach to determining director and audit committee member independence.

"The exercise of independent judgement by boards and board committees is a fundamental element of corporate governance," said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. "The purpose of this consultation is to solicit views on the appropriateness of our approach to determining independence for all issuers in the Canadian market."

The Consultation Paper outlines key historical developments related to the CSA's corporate governance regime, sets out our approach to determining director and audit committee member independence, and describes the approaches to determining independence in other jurisdictions. The Consultation Paper also examines the benefits and limitations of our approach.

The Consultation Paper can be found on CSA members' websites. Comments should be submitted in writing by January 25, 2018.

The CSA, the council of the securities regulators of Canada's provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.


For more information:

Sylvain Théberge                                          

Kristen Rose

Autorité des marchés financiers                     

Ontario Securities Commission



Hilary McMeekin                                           

Alison Walker

Alberta Securities Commission                      

British Columbia Securities Commission



Jason (Jay) Booth                                         

David Harrison

Manitoba Securities Commission                  

Nova Scotia Securities Commission



Shannon McMillan                                        

Erin King                   

Financial and Consumer Affairs                    

Financial and Consumer Services

Authority of Saskatchewan                           

Commission, New Brunswick



Janice Callbeck                                              

John O'Brien              

Office of the Superintendent of                    

Office of the Superintendent of

Securities, P.E.I.                                           

Securities, Newfoundland and Labrador



Rhonda Horte                                                

Tom Hall

Office of the Yukon Superintendent             

Office of the Superintendent of Securities,

of Securities                                                   

Northwest Territories



Jeff Mason                                                     

Nunavut Securities Office



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Last update: October 26, 2017