FACL Western Comments on Proposed Amendments to Corporate Governance Disclosure

On April 13, 2023, the Canadian Securities Administrators issued a notice and request for comment on its proposed amendments to Form 58-101F1 Corporate Governance Disclosure (Form 58-101F1) of National Instrument 58-101 Disclosure of Corporate Governance Practices (NI 58-101) pertaining to board nominations, board renewal and diversity (the Proposed Amendments).

Summary

The CSA presented two forms of amendments: Form A and B. The Proposed Amendments would require disclosure on aspects of diversity beyond the representation of women (a requirement added in 2014).

• Form A “would introduce the concept of “identified group”, meaning a group of individuals with a shared personal characteristic, whose representation on the issuer’s board or in its executive officer positions has been identified by the issuer as being part of the issuer’s strategy respecting diversity, but does not include women.”

• Form B “would introduce the concept of “designated groups”, meaning persons who self-identify as one or more of the following: Indigenous peoples, LGBTQ2SI+ persons, racialized persons, persons with disabilities or women. Each of these groups (except women) would also be defined.”

FACL Western recognizes the important of diversity on boards and in senior management positions within Canada, strongly supports Form B, and submitted comments to the proposed amendments on September 29, 2023. Disclosure of information would show investors that issuers have thought about their commitment to diversity at the highest levels of their organizations.

Read FACL Western’s full submissions here.

The CSA’s Request for Comments can be found here.

Thank you attendees: FACL Mentorship Dinner

FACL Western 2022 Mentorship Dinners

We are happy to celebrate the successful completion of FACL Western’s 2022 Mentorship Dinners. These dinners took place in all three FACL Western provinces and were wonderfully hosted by the respective members of the student committee from Calgary, Edmonton, Saskatoon and Winnipeg. 

These dinners gave 81 pan-Asian students and lawyers the opportunity to connect with each-other and build a strong community within their cities. Mentorship is one of FACL’s core principles as we always work toward promoting opportunities for Asian Canadian legal professionals. 

We would like to thank Osler Hoskin & Harcourt LLP for sponsoring the dinners for all four cities. This opportunity would not have been possible without their generous contribution. We would also like to thank the Mentors for taking the time out of their busy schedules to educate and inspire the next generation of Asian Canadian lawyers. 

September Update: Diversity in the City Gala

Our 2022 Diversity in the City Gala was a resounding success! Over 220 attendees mingled, reconnected, and listened to the stories of persons of colour from all walks of life. We were encouraged to see representation and allyship from national firms to solo practitioners, partners and associates.

Calgary mayor Jyoti Gondek and Kathy Le (CTV News) told their heartfelt stories about systemic discrimination and the need to unite for positive change and understanding. Local artists, Harvey Nichol and Ryle Ramirez, shared about their artistic expressions of the Canadian immigrant experience. And we celebrated Asian heritage with a traditional lion dance from Jing Wo Cultural Association and a Bollywood dance performance from Ghunagroo Beats.

Thank you for being there. We hope to see you next year!