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BCSC Notice 2018-3 Women on Boards
Letter Summary:
The consultation asks if BC should adopt the existing comply or explain requirements applicable to non-venture issuers in other jurisdictions to help promote gender diversity in boardrooms.
The council is considering making diversity a core advocacy issue and work is underway to inform our opinion based on the position of CFA Institute.
Overview of the Council’s Comments:
The CAC supports the adoption of disclosure requirements to support gender diversity However, the council queries whether the requirements alone are sufficient to inform voting and investment decisions. Also, the council suggests that regulators develop and implement corporate governance guidelines and encourage board term limits to increase board diversity