Proposed Amendments to Executive Compensation Disclosure Rules

The Canadian Securities Administrators ("CSA") recently published for public comment proposed amendments to Form 51-102F6 - Statement of Executive Compensation and consequential amendments to Form 58-101F1 - Corporate Governance Disclosure and Form 58-101F2 - Corporate Governance Disclosure (Venture Issuers) (collectively the "Proposed Amendments"). The release of the Proposed Amendments follows the CSA's compliance review of executive compensation disclosure and publication of their findings in CSA Staff Notice 51-331 - Report on Staff's Review of Executive Compensation Disclosure (the "CSA Disclosure Review").

In developing the Proposed Amendments, the CSA also considered recent U.S. developments in executive compensation disclosure. The purpose of the Proposed Amendments is to improve disclosure to the market about compensation practices, valuation of equity-based awards and arrangements between issuers and their compensation advisors. Comments on the Proposed