News Releases
Canadian Regulators Seek Comment on Proposed Enhancements to Executive Compensation Disclosure
Mar 29, 2007
The Canadian Securities Administrators (CSA) announced today they are seeking comments on Proposed Form 51-102F6 Statement of Executive Compensation, designed to improve existing disclosure rules for executive compensation by all reporting issuers.
The proposed Form will require companies to clearly define their compensation policies and objectives, and will provide the total compensation, in tabular form, for each named executive officer and director. In addition, the Form will require disclosure of key aspects of executive compensation such as salary, bonus, stock and option awards, payments upon termination or change in control, and pension entitlements.
“These amendments will provide investors with improved clarity and context regarding corporate compensation practices,” said Jean St-Gelais, Chair of the CSA and President & Chief Executive Officer of the Autorité des marchés financiers (Québec). “Enhanced disclosure is vital to investors understanding how executives are compensated.”
Proposed Form 51-102 F6 Statement of Executive Compensation, the related CSA Notice and Request for Comments, and related documents are available on various CSA members’ websites. The comment period is open until June 30, 2007.
The CSA, the council of the securities regulators of Canada’s provinces and territories,
co-ordinates and harmonizes regulation for the Canadian capital markets.
–30 –
Carolyn Shaw-Rimmington
Ontario Securities Commission
204-945-4733
Manitoba Securities Commission
416-593-2361Frédéric Alberro
Autorité des marchés financiers
514-940-2176
Jane Gillies
New Brunswick Securities Commission
506 643-7745
Andrew Poon
British Columbia Securities Commission
604-899-6880Nicholas A. Pittas
Nova Scotia Securities Commission
902-424-6859Tamera Van Brunt
Alberta Securities Commission
403-297-2664Barbara Shourounis
Saskatchewan Financial Service Commission
306-787-5842Marc Gallant
Prince Edward Island Office of the Attorney General
902-368-4552