CSA Propose Amendments to Executive Compensation Disclosure

The Canadian Securities Administrators (CSA) today published proposed amendments to Form 51-102F6 Statement of Executive Compensation  as well as related consequential amendments to NI 51-102 Continuous Disclosure Obligations and Forms 58-101F1 and 58-101F2 of National Instrument 58-101 Disclosure of Corporate Governance Practices. The proposed amendments will impact primarily upon the “compensation disclosure and analysis” or “CD&A” disclosure that was first introduced by the CSA effective December 31, 2008. The proposals stem from a combination of information gathered by the CSA through its targeted compliance review of executive compensation disclosure (as reported in CSA Staff Notice 51-331) and recent international developments, including new rules adopted by the Securities and Exchange Commission effective for the 2010 proxy season and those resulting from the Dodd-Frank Wall Street Reform and Consumer Protection Act that are expected to affect 2011