TORONTO, Feb. 22 /CNW/ - The Canadian Securities Administrators (CSA)
announced today they are seeking further comment on the proposed repeal and
substitution of Form 51-102F6 Statement of Executive Compensation.
The CSA has revised the Form to reflect the significant feedback,
particularly in the areas of equity awards and pensions, received from the
first publication of the proposals in March 2007. The proposed Form is
designed to improve the manner in which executive compensation is disclosed.
Companies will be required to disclose all compensation awarded to certain
executive officers and directors in a new tabular format, along with narrative
discussion and explanation.
"Executive compensation practices are constantly evolving, and have
become quite complex," said Jean St-Gelais, Chair of the CSA and President &
Chief Executive Officer of the Autorité des marchés financiers (Québec).
"Improving disclosure will allow investors to assess how compensation
decisions are made, and provide insight into a key aspect of a company's
overall stewardship and governance."
Proposed Form 51-102 F6 Statement of Executive Compensation, the related
CSA Notice and Request for Comments, and certain consequential amendments are
available on various CSA members' websites. The comment period is open until
April 22, 2008.
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: Laurie Gillett, Ontario Securities Commission,
(416) 595-8913; Barbara Shourounis, Saskatchewan Financial Services
Commission, (306) 787-5842; Frédéric Alberro, Autorité des marchés financiers,
(514) 940-2176; Andrew Poon, British Columbia Securities Commission, (604)
899-6880; Nicholas A. Pittas, Nova Scotia Securities Commission, (902)
424-6859; Mark Dickey, Alberta Securities Commission, (403) 297-4481; Ainsley
Cunningham, Manitoba Securities Commission, (204) 945-4733; Jane Gillies, 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; Donald
MacDougall, Securities Registry, Northwest Territories, (867) 920-8984; Yukon
Securities Registry, Fred Pretorius, (867) 667-5225