TORONTO--(BUSINESS WIRE)--The Canadian Investor Relations Institute (CIRI) is working with Glass Lewis to increase engagement with Canadian issuers, to enhance accuracy and transparency in the Canadian capital market and, ultimately, to improve the quality of the shareholder vote.
In preparation for the 2016 proxy season, Glass Lewis is initiating a pilot of their Issuer Data Report (IDR) in Canada. The IDR includes information that will be used by Glass Lewis to inform its voting recommendations. CIRI encourages Canadian issuers to participate in this pilot in order to improve the accuracy of information that is used by institutional shareholders when voting on company matters.
“CIRI is committed to improving the quality of the shareholder vote. Increased engagement between issuers and proxy advisory firms will increase the accuracy and transparency of voting recommendations,” said Yvette Lokker, President & CEO of CIRI. “This is a step toward instilling greater confidence in the shareholder vote.”
“Glass Lewis strongly believes that the quality of our research is enhanced by engaging constructively and transparently with issuers, as it ensures our research team considers the most relevant public information,” said Aaron Bertinetti, Vice President of Research and Engagement of Glass Lewis. “We are excited to introduce the IDR service in Canada in association with CIRI, and look forward to further expanding its scope in coming years.”
The IDR includes a set of key data points that are central to Glass Lewis’ corporate governance analysis – for example data on directors, auditors and their fees, summary compensation data and equity plans, among others. Issuers participating in the pilot will receive the IDR via email three to four weeks prior to their shareholder meeting. They will generally have 48 hours to review the IDR for factual accuracy and provide suggested corrections to Glass Lewis, including the public documentation supporting any corrections.
Glass Lewis will pilot the service on a limited basis, providing access in the first year to 100 Canadian listed companies. CIRI members are being offered pre-launch, priority access to the report. To participate in this pilot, please contact Yvette Lokker.
CIRI is a professional, not-for-profit association of executives responsible for communication between public corporations, investors and the financial community. CIRI contributes to the transparency and integrity of the Canadian capital market by advancing the practice of investor relations, the professional competency of its members and the stature of the profession. With more than 500 members and four Chapters across the country, CIRI is the voice of IR in Canada. For further information, please visit CIRI.org.
About Glass Lewis
Glass Lewis is the leading independent provider of global governance services, helping institutional investors understand and connect with the companies they invest in. We are a trusted ally of more than 1,200 investors globally who use our high-quality, unbiased Proxy Paper research, industry-leading Viewpoint proxy vote management solution, and innovative Meetyl direct-engagement platform to help drive value across all their governance activities. Glass Lewis empowers institutional investors that collectively manage more than $25 trillion to make sound voting decisions at more than 20,000 meetings a year in 100 countries by uncovering and assessing governance, business, legal, political and accounting risks. Founded in 2003, Glass Lewis has more than 360 employees worldwide across offices from headquarters in San Francisco to New York, Washington D.C., Sydney, Australia, Limerick, Ireland, and Karlsruhe, Germany. More information available at www.glasslewis.com.