The Nova Scotia Securities Commission (NSSC) and the New Brunswick Financial and Consumer Services Commission (FCNB) have issued a short consultation paper with respect to disclosure on diversity in the capital markets and are accepting comments until November 15th. The consultation is further to the CSA’s announcement earlier this year that they will be conducting research to help determine how the disclosure needs of Canadian investors and practices among public companies have changed since the gender diversity requirements in National Instrument 58-101 Disclosure of Corporate Governance Practices were adopted. The NSSC and the FCNB asked for responses to a number of specific questions about the disclosure regime regarding diversity. It is noted in the paper that a number of foreign jurisdictions are already requiring additional disclosure with respect to gender and diversity targets. The consultation seeks feedback on whether additional disclosure requirements are needed for Canadian reporting issuers, how investors may use that information, and the impact on public companies in disclosing the data.

October 29, 2021