US Investor Letter to Canadian Modernization Task Force

In September of 2020, an ongoing review of Canadian capital markets regulations by a government-appointed panel in Ontario proposed to mandate precedent-setting ESG-related disclosures from Canadian companies. However, it is also proposing to mimic efforts at the SEC to provide corporations with a “right of rebuttal” to proxy advice, and create a “no action” process to regulate shareholder proposals, which could set a negative precedent. SHARE organized a coalition of US investors to co-sign the following letter to the Capital Markets Modernization Task Force to provide an international voice on the proposed measures.