http://www.theglobeandmail.com/globe-investor/osc-seeks-public-input-on-reforms/article1864092/

The Ontario Securities Commission is reviewing reforms that could make the province the first jurisdiction in Canada to require companies to give shareholders an annual “say on pay” on executive compensation

Ontario could also become the first province in Canada to require companies to let shareholders vote for each director on a board individually, rather than as an entire slate. The practice has long been endorsed by shareholder groups because it allows investors to target individual directors they do not support without having to vote against the entire board.

The OSC also is considering going further, to champion a practice known as “majority voting,” which requires directors to resign if they fail to win a majority of votes in annual shareholder voting. (Under the existing proxy voting system, shareholders can only vote “yes” or withhold their votes for a director, but cannot vote “no” to oppose a nominee.)