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Regulators look to reform proxy voting in Canada
Regulators look to reform proxy voting in Canada
(Comstock Images/Getty Images/Comstock Images)

Regulators look to reform proxy voting in Canada

Canada’s provincial securities regulators are banding together to reform the way that shareholders record their votes.

As it stands, Canadian investors are capable of voting by proxy, which means they can make their voice heard without attending a shareholder meeting.

Such a system is common in many countries, but Canada has needed changes for some time – so much so that pension plans such as Ontario Teachers' Pension Plan, Alberta Investment Management Corp., British Columbia Investment Management Corp. and the federal Public Sector Pension Investment Board recently urged the Ontario Securities Commission to make it a priority.