CSA to examine director and audit committee independence

CSA has launched a consultation on its approach to director and audit committee member independence.

Consultation paper 52-404 Approach to director and audit committee member independence, published Thursday, outlines key historical developments related to CSA’s corporate governance regime, sets out its approach to determining director and audit committee member independence, and describes the approaches to determining independence in other jurisdictions. It also examines the benefits and limitations of the approach.

Read: Battle over CSA reforms reveals industry cracks

“The exercise of independent judgement by boards and board committees is a fundamental element of corporate governance,” said CSA chair Louis Morisset in a release. “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.”

Comments should be submitted in writing by Jan. 25, 2018. Read the full consultation paper here.

Read: CSA, TSX outline expectations for issuers with U.S. marijuana activities

Read: Are robos regulated like humans?

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.