Is M&A still a male dominated industry? Back in its 2011 article, Reuters referred to M&A as a “man’s game”. They found that only 15% of executives and senior level managers in US investment banking and securities dealing industries were women. A 2011 survey found that 83% of female finance executives perceived the glass-ceiling to be a very real and prevalent factor preventing them from moving forward. Further there were a small number of women graduating from business schools choosing to enter the financing and accounting market – nearly half the number of the men in the recruitment process.… Continue Reading
In an earlier post we commented on the importance of improving a company’s risk profile and performance by implementing methods and practices to ensure the success of gender diversification policies. Citing an academic study on management diversity entitled “Do Women Stay Out of Trouble,” we pointed out that gender diversification has a financial benefit because, according to the study, women in management are usually more risk-averse and law abiding, thereby protecting firms from various types of lawsuits. But does this mean that all women are risk-averse, or that the presence of women ensure that boards make their decisions … Continue Reading
Last year, the Canadian Securities Administrators (CSA) began an initiative to increase transparency regarding female representation on boards and in executive officer positions. This was done by way of proposing amendments to the existing National Instrument 58-101 Disclosure of Corporate Governance Practices (NI 58-101). In the proposal stage, these amendments faced the typical gamut of comments, ranging from applause to dissatisfaction. Deal Law Wire also commented on these amendments in a previous post.
On December 31, 2014 the proposed amendments to NI 58-101 were implemented and, as a participating jurisdiction, Ontario became subject thereto. The … Continue Reading
Earlier this month saw the closing of the comment period for the Ontario Securities Commission’s (OSC) Staff Consultation Paper 58-401 Disclosure Requirements Regarding Women on Boards and in Senior Management. The paper proposes amendments to National Instrument 58-101 Disclosure of Corporate Governance Practices such that TSX-listed companies (excluding venture issuers and investment funds) would have to meet disclosure requirements with respect to female representation on boards and in senior management.
The purpose of the OSC consultation paper is to enhance corporate governance by “advancing the representation of women” in leadership roles with a “comply or explain” system aimed at … Continue Reading