The Canadian Securities Administrators (CSA) today announced changes to its continuous disclosure obligations designed to improve the disclosure of executive compensations.

The CSA says it is adopting Form 51-102F6 Statement of Executive Compensation as well as consequential amendments to National Instrument 51-102 Continuous Disclosure Obligations and related forms.

These amendments will result in better communication of payments and awards to certain executive officers or directors, the CSA says.

The improved disclosure will help investors understand how decisions about executive compensation are made, it adds.

“It is important that issuers provide, and investors receive, meaningful disclosure about the compensation paid to executives,” said Jean St-Gelais, chairman of the CSA and president & CEO of the Autorité des marchés financiers, in a release. “We have worked diligently across the CSA to ensure that the final rule is appropriate to our marketplace and beneficial to investors.”

The new form and consequential amendments will take effect for years ending on or after Dec. 31, 2008.