June 20, 2008
Chief Executives Want Shareholders Have Greater Access to Information
In a Grant-Thornton poll, chief executives indicated two key areas that shareholders would be pleased with:
- The CFO and CEO positions in the company should be held by different individuals to assure independence.
- Chief executives want shareholders to have great transparency concerning compensation information.
This is an interesting trend post Sarbanes-Oxley. Maybe it turns out that good governance IS good. There is no point in trying to make executive compensation opaque to investors. This just increases unnecessary shareholder activism and assures that investors think the worst.
If you are one of those 3600 Canadian companies who have to comply with NI 51-102F6, then you will be very interested in the new Executive Compensation Disclosure product that we have developed and that is being distributed in Canada by Carswell, a Thomson Reuters business. The product is Compliance PARTNER - Executive Compensation Disclosure edition. You can learn more about the product by going to their Compliance PARTNER website for the Thomson Reuters news release or go directly to www.compliancepartner.ca for more information.
June 13, 2008
Executive Compensation Disclosure - Canadian Update for Fiscal Year 2008
The Canadian Securities Adminstrators (CSA) are in the process of finalizing the expanded requirements for executive compensation disclosure associated with Form 51-102F6 Statement of Executive Compensation. The implementation date should begin with those issuers, excluding investment funds, with fiscal years on or after December 31, 2008.
This means there is lots more disclosure work ahead for about 3600 issuers on the TSX and TSX Venture exchanges.
Companies are going to need to improve their processes, systems and practices to meet the new requirements. Many shareholders feel that it couldn't come at a better time. A news release today highlights the challenges associated with transparency and processes. Click here to read more. Ouch!
If you are one of those 3600 companies then you will be very interested in the new Executive Compensation Disclosure product that we have developed and that is being distributed in Canada by Carswell, a Thomson Reuters business. The product is known as Compliance PARTNER - Executive Compensation Disclosure edition. You can learn more about the product by going to their Compliance PARTNER website at http://www.compliancepartner.ca/ .
This means there is lots more disclosure work ahead for about 3600 issuers on the TSX and TSX Venture exchanges.
Companies are going to need to improve their processes, systems and practices to meet the new requirements. Many shareholders feel that it couldn't come at a better time. A news release today highlights the challenges associated with transparency and processes. Click here to read more. Ouch!
If you are one of those 3600 companies then you will be very interested in the new Executive Compensation Disclosure product that we have developed and that is being distributed in Canada by Carswell, a Thomson Reuters business. The product is known as Compliance PARTNER - Executive Compensation Disclosure edition. You can learn more about the product by going to their Compliance PARTNER website at http://www.compliancepartner.ca/ .
