Federal regulationCanada Gazette, Part IComment Period Closed

GI-2025-7-reg4: Diversity Information Disclosure (Trust and Loan Companies) Regulations

Sponsoring body: Finance, Dept. ofIntroduced February 15, 2025Last checked August 25, 2026

Read the official text on gazette.gc.caOfficial version — Canada Gazette, Part I

What this regulation does

This regulation requires publicly traded (distributing) trust and loan companies to annually disclose diversity information about their boards of directors and senior management, covering women, Indigenous peoples (First Nations, Inuit, and Métis reported separately), persons with disabilities, and members of visible minorities, using a 'comply or explain' model.

Plain-language summary by Legisail.

Business impact

Compliance

About 16 distributing (publicly traded) trust and loan companies are directly affected — these are larger institutions familiar with similar provincial securities rules. Each company will need to collect diversity data across their organization, fill out a standardized table, and disclose it to shareholders alongside their annual meeting notice. The government estimates this takes roughly 24 hours of staff time in the first year (split between a senior manager and a finance professional) and only about 6 hours per year after that, with total costs across all affected companies estimated at just over $8,100 annually. Small businesses are not affected, and the regulation does not apply to non-distributing (privately held or non-publicly issuing) trust and loan companies.

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Where this regulation is

Proposed

Comment period closed