Amendments To Executive Compensation Disclosure Requirements

The Canadian Securities Administrators (CSA) are adopting amendments to Form 51-102F6 Statement of Executive Compensation (Form 51-102F6) which, subject to ministerial approvals, will apply in respect of financial years ending on or after October 31, 2011. The amendments follow the 2009 CSA Staff Notice reporting on a targeted compliance review of executive compensation disclosure, as well as the adoption by the Securities and Exchange Commission of rules amending compensation and corporate governance disclosure requirements for U.S. companies. The changes are intended to improve the information companies provide investors about key risks, governance and compensation matters. The amendments range from drafting changes to clarify existing disclosure requirements to new substantive requirements.