Monday, October 26, 2009
According to the Canadian Globe and Mail, say-on-pay is voluntarily sweeping Canada's financial services industry:
Canada's nine largest financial services companies have reached an agreement to give shareholders a vote next year on the same resolution approving the firms' compensation policies for top executives.
The rare show of co-operation among the largest banks and insurers comes as they are preparing to give shareholders their first vote on executive compensation, a practice known as “say on pay.”
Meanwhile, back down in the US, Rep. Frank's say-on-pay bill continues to plod along tied to regulatory reform of the financial sector.