CSA Securities

Toronto – 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 capital markets.

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For more information:

CSA member name

Point of contact

Phone number

Alberta Securities Commission

Mark Dickey

403 297-4481

Autorité des marchés financiers

Frédéric Alberro

514 940-2176

British Columbia Securities Commission

Andrew Poon 

604 899-6880

Financial Services Regulation Division, Newfoundland and Labrador

Doug Connolly

709 729-2594

Manitoba Securities Commission

Ainsley Cunningham

204 945-4733

New Brunswick Securities Commission

Jane Gillies

506 643-7745

Nova Scotia Securities Commission

Nicholas A. Pittas

902 424-6859

Nunavut Securities Registry

Louis Arki

867 975-6587

Ontario Securities Commission

Laurie Gillett

416 595-8913

Prince Edward Island Office of the Attorney General

Marc Gallant

902 368-4552

Saskatchewan Financial Services Commission

Barbara Shourounis

306 787-5842

Securities Registry, Northwest Territories

Donald MacDougall

867 920-8984

Yukon Securities Registry

Fred Pretorius

867 667-5225