The Canadian Securities Administrators (CSA) published for comment proposed amendments to Form 51-102F6 Statement of Executive Compensation designed to improve the disclosure investors receive regarding executive compensation.

“Improved disclosure helps investors understand how boards of directors make decisions about executive compensation and also helps them determine whether management’s incentives are aligned with shareholder interests,” said Jean St-Gelais, Chair of the CSA and President and Chief Executive Officer of the Autorité des marchés financiers (Québec). 

In developing the proposals, the CSA considered the findings of a 2009 CSA targeted compliance review of executive compensation disclosure by a sample of public companies. The focus of the review was to assess compliance with Form 51-102F6, educate companies about the requirements of the Form, and identify any requirements that needed clarification. The CSA also considered a number of recent international developments in executive compensation disclosure, including new compensation and corporate governance disclosure requirements adopted by the U.S. Securities and Exchange Commission for the 2010 proxy season. 

The comment period for all stakeholders is open until February 17, 2011. 

Press release