Canadian companies listed on the Toronto Stock Exchange (TSX) may be subject to new regulations on board elections sooner rather than later. The TSX bypassed the slower Ontario Securities Commission (OSC) rulemaking process and proposed its own reforms last month.
Directors of TSX-listed companies would be elected individually on an annual basis if the proposal is approved by the OSC and implemented following the 30-day comment period ending October 11.
The proposal also requires TSX issuers to disclose whether they have adopted...