MONTREAL (Reuters) - Canadian banks and other national institutions have to disclose information about the diversity of their boards of directors and top management under new rules published on Saturday, in sharp contrast with the U.S. Trump administration which is ending such practices.
Federally regulated financial institutions must also disclose policies to increase diversity while sending out notices of annual meetings to shareholders.
"Investors lack transparent and standardized information on the representation of women, Indigenous peoples, persons with disabilities and members of visible minorities in senior leadership positions," the notice in the Canada Gazette read.
"Diversity is fundamental to creating a thriving and successful financial sector that reflects Canadian values.