Canadian Securities Regulators Implement Improvements to Executive Compensation Disclosure

    TORONTO, Sept. 18 /CNW/ - 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
    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.

For further information:

For further information: 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

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