News Releases
Canadian Securities Regulators Implement Improvements to Executive Compensation Disclosure
Sep 18, 2008
The Canadian Securities Administrators (CSA) announced today they are adopting Form 51-102F6 Statement of Executive Compensation as well as consequential amendments to National Instrument 51-102 Continuous Disclosure Obligations and related forms.
These amendments will result in better communication of payments and awards to certain executive officers or directors. Improved disclosure will help investors understand how decisions about executive compensation are made and provide insight into executive compensation as a key aspect of the overall stewardship and governance of a reporting issuer.
“It is important that issuers provide, and investors receive, meaningful disclosure about the compensation paid to executives,” said Jean St-Gelais, Chair of the CSA and President & Chief Executive Officer of the Autorité des marchés financiers (Québec). “We have worked diligently across the CSA to ensure that the final rule is appropriate to our marketplace and beneficial to investors.”
The new Form and consequential amendments will take effect for years ending on or after December 31, 2008.
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
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For media inquiries:
| Laurie Gillett Ontario Securities Commission 416-595-8913 |
Barbara Shourounis Saskatchewan Financial Services Commission 306-787-5842 |
| Sylvain Théberge Autorité des marchés financiers 514-940-2176 |
Andrew Poon British Columbia Securities Commission 604-899-6880 |
| Natalie MacLellan Nova Scotia Securities Commission 902-424-8586 |
Mark Dickey Alberta Securities Commission 403-297-4481 |
| Ainsley Cunningham Manitoba Securities Commission 204-945-4733 |
Wendy Connors-Beckett New Brunswick Securities Commission 506-643-7745 |
| Marc Gallant Prince Edward Island Office of the Attorney General 902-368-4552 |
Doug Connolly Financial Services Regulation Division Newfoundland and Labrador 709-729-2594 |
| Louis Arki Nunavut Securities Registry 867-975-6587 |
Donn MacDougall Securities Registry Northwest Territories 867-920-8984 |
| Fred Pretorius Yukon Securities Office 867-667-5225 |