Canadian Securities Regulators proceed with enhanced executive compensation disclosure requirements


Toronto - The Canadian Securities Administrators (CSA) announced today it is implementing amendments to Form 51-102F6 Statement of Executive Compensation, which will provide investors with enhanced information on the key risks, governance matters and compensation practices of publicly listed companies.

A key amendment to the Form, which will come into effect October 31, 2011, is to require public companies to disclose to investors whether their board of directors adequately considered the implications of the risks associated with the company's compensation policies and practices. Public companies will also be required to provide investors with greater details on the fees paid to outside compensation consultants.

"Greater transparency on the compensation policies of public companies will allow investors to make better informed voting and investment decisions, and will help them determine whether management's incentives are aligned with their interests," said Bill Rice, Chair of the CSA and Chair and CEO of the Alberta Securities Commission.

In developing the new requirements, the CSA considered the findings of its 2009 targeted compliance review of a sample of public companies' executive compensation disclosure. The CSA also considered a number of recent international developments in executive compensation disclosure.

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 more information:

CSA member name

Point of contact

Phone number

Autorité des marchés financiers

Sylvain Théberge


Alberta Securities Commission

Mark Dickey


British Columbia Securities Commission

Richard Gilhooney


Financial Services Regulation Div. Newfoundland and Labrador

Doug Connolly


Manitoba Securities Commission

Ainsley Cunningham


New Brunswick Securities Commission

Wendy Connors-Beckett


Northwest Territories Securities Office

Donn MacDougall


Nova Scotia Securities Commission

Natalie MacLellan


Nunavut Securities Office

Louis Arki


Ontario Securities Commission

Carolyn Shaw-Rimmington


PEI Securities Office, Office of the Attorney General

Janice Callbeck


Saskatchewan Financial Services Commission

Jennifer Anderson


Yukon Securities Registry

Ken Kilpatrick