CSA issues guidance as banks and insurers get court order to hold online AGMs [Advisor.ca (Canada)]
Bank Of Montreal (BMO)
Last bank of montreal earnings: 2/25 06:00 am
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Source: Advisor.ca
Since changing annual meetings doesn’t fall under the jurisdiction of securities regulators, the CSA recommends that companies review corporate law and their own articles of incorporation and bylaws when considering such changes. Still, it recommended that additional materials don’t have to be sent or updated if the company issues a news release announcing the change in the date, time or location; files the release on SEDAR; and takes all reasonable steps to inform all parties of the change. “We expect reporting issuers to take the above actions promptly after making a decision to change the date, time or location of an AGM and sufficiently in advance of the AGM to alert the market in a timely manner,” the CSA said in a statement. If proxy-related materials haven’t been sent, companies should consider disclosing the possibility of meeting changes because of steps taken to slow the spread of the novel coronavirus. The guidance relates to all business done at annual meetings, including
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