News Releases

Canadian Securities Regulators Proceed With Enhanced Executive Compensation Disclosure Requirements

Jul 22, 2011

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:

Carolyn Shaw-Rimmington
Ontario Securities Commission
Sylvain Théberge
Autorité des marchés financiers 514-940-2176
Mark Dickey
Alberta Securities Commission
Richard Gilhooley
British Columbia Securities Commission
Ainsley Cunningham
Manitoba Securities Commission
Wendy Connors-Beckett
New Brunswick Securities Commission
Natalie MacLellan
Nova Scotia Securities Commission
Jennifer Anderson
Saskatchewan Financial Services
306- 798-4160
Janice Callbeck
PEI Securities Office
Office of the Attorney General
Doug Connolly
Financial Services Regulation Div.
Newfoundland and Labrador
Ken Kilpatrick
Yukon Securities Registry
Louis Arki
Nunavut Securities Office
Donn MacDougall Northwest Territories
Securities Office