With Stephen Erlichman
As we discussed in a previous bulletin, on June 21, 2012, the Canadian Securities Administrators published Consultation Paper 25-401: Potential Regulation of Proxy Advisory Firms (the "Consultation Paper") to provide a forum for discussion of certain concerns raised about the services provided by proxy advisory firms and their potential impact on Canadian capital markets and to determine if, and how, these concerns should be addressed by the CSA.