TORONTO, March 29 /CNW/ - 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 51-102F6 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
For further information:
For further information: Carolyn Shaw-Rimmington, Ontario Securities
Commission, (416) 593-2361; Frédéric Alberro, Autorité des marchés financiers,
(514) 940-2176; Andrew Poon, British Columbia Securities Commission, (604)
899-6880; Tamera Van Brunt, Alberta Securities Commission, (403) 297-2664;
Marc Gallant, Prince Edward Island, Office of the Attorney General, (902)
368-4552; Ainsley Cunningham, Manitoba Securities Commission, (204) 945-4733;
Jane Gillies, New Brunswick Securities Commission, (506) 643-7745; Nicholas A.
Pittas, Nova Scotia Securities Commission, (902) 424-6859; Barbara Shourounis,
Saskatchewan Financial Service Commission, (306) 787-5842