CALGARY, Sept. 27, 2018 /CNW/ - The Alberta Securities Commission (ASC) today participated in the publication of CSA Multilateral Staff Notice 58-310 Report on Fourth Staff Review of Disclosure regarding Women on Boards and in Executive Officer Positions.
In December 2016, the ASC adopted amendments to NI 58-101. The amendments require non-venture reporting issuers in Alberta to provide annual disclosure in their proxy circular or annual information form about representation of women on their boards and in executive officer positions, and other related disclosure requirements.
"We continue to highlight this information for issuers in the Alberta market as we have heard from investors that it is important to their voting and investment decisions," said Stan Magidson, Chair and Chief Executive Officer of the ASC.
The CSA review includes the consideration of information from 143 TSX-listed Alberta-based companies1. Alberta trends include:
- Women hold 12 per cent of board positions in Alberta, an increase from 11 per cent in 2017 and 8 per cent in 2014.
- 63 per cent of companies have one or more women on their board, compared with 46 per cent in 2017 and 46 per cent in 2014; 57 per cent report having one or more women in executive officer positions.
- 24 per cent of board vacancies were filled by women in 2018, a slight decrease from 25 per cent in 2017.2
- Alberta's largest companies continue to have the highest percentage of gender diversity among board members. Of the companies that form part of the TSX 60 Index:
- 24 per cent of board positions are held by women.
- 15 per cent of board vacancies were filled by women.
- 100 per cent have two or more women on their board, and 77 per cent report one or more women in their executive ranks.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
1 The CSA's 2018 review included only December 31 through March 31 year-ends. The methodology for the CSA review is different from that of the prior Albertan Women on Boards Index; as a result, prior results are not comparable. The information contained in this release is solely from the CSA's compilation of issuers' disclosures.
2 The CSA began tracking this metric in 2017; prior year results are not available.
SOURCE Alberta Securities Commission
For further information: For Media Inquiries: Hilary McMeekin, Manager, Communications, 403. 592.8186; For Investor Inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488