For Immediate ReleaseJanuary 26, 2017
Toronto – The Canadian Securities Administrators (CSA) today published CSA Staff Notice 54-305 Meeting Vote Reconciliation Protocols, which outlines CSA staff expectations and guidance for improving the processes involved in the tabulation of proxy votes.
“These protocols lay the foundation for key entities to work collectively to improve meeting vote reconciliation,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “This is a significant milestone in our work to increase the accuracy, accountability and reliability of the proxy voting infrastructure.”
The voluntary protocols outline CSA staff expectations related to generating and sending vote entitlement information; setting up vote entitlement accounts; sending proxy vote information and tabulating and recording proxy votes; and informing beneficial owners of any rejected or pro-rated votes.
Over the next two proxy seasons, the CSA will monitor the implementation of the protocols and assess the need for any enhanced regulatory measures. The CSA will also continue to encourage and monitor industry initiatives for paperless meeting vote reconciliation and end-to-end vote confirmation. CSA staff will receive ongoing input on these areas from a technical committee made up of representatives from key service providers involved in the proxy voting process.
The notice, including the protocols, can be found on CSA members’ websites.
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
Kristen Rose Ontario Securities Commission 416-593-2336
Nicole Tuncay Alberta Securities Commission 403-297-4008
Alison Walker British Columbia Securities Commission 604-899-6713
Sylvain Théberge Autorité des marchés financiers 514-940-2176
Jason (Jay) Booth Manitoba Securities Commission 204-945-1660
Andrew Nicholson Financial and Consumer Services Commission, New Brunswick 506-658-3021
Jane Anderson Nova Scotia Securities Commission 902-424-0179
Janice Callbeck Office of the Superintendent of Securities, P.E.I. 902-368-6288
John O’Brien Office of the Superintendent of Securities, Newfoundland and Labrador 709-729-4909
Rhonda Horte Office of the Yukon Superintendent of Securities 867-667-5466
Jeff Mason Nunavut Securities Office 867-975-6591
Tom Hall Office of the Superintendent of Securities, Northwest Territories 867-767-9305
Shannon McMillan Financial and Consumer Affairs Authority of Saskatchewan 306-798-4160
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