Stephen Erlichman and Canadian Coalition Good Governance

Yukon Government: The Yukon Government has said the new rules, which took effect on May 1, 2015, were meant to modernize outdated laws, according to CBC. But Stephen Erlichman, the executive director of the Toronto based Canadian Coalition for Good Governance, says several of the provisions are troublesome, and carry the potential for conflict of interest among corporate directors. A large shareholders' rights group in Canada is taking issue with new corporate governance rules in Yukon. The Coalition website says its members manage more than $2.5 trillion dollars in assets on behalf of pension funds, mutual fund unit holders, and other institutional and individual investors. Hundreds of years' of tradition wiped from Yukon laws Erlichman cites other problems with the new law, such as letting directors take personal advantage of business opportunities in some situations. Erlichman says Yukon is now the only place in Canada where one corporate director can give a proxy to another director to vote on his or her behalf. "A director should not be giving his vote away to another director, we want each director to give thought to every matter that brought forward at a board meeting," says Erlichman.' He says shareholders choose directors for a reason. (news.financializer.com). As reported in the news.