M & A Law Prof Blog

Editor: Brian JM Quinn
Boston College Law School

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Monday, October 26, 2009

Say on Pay - Great White North Edition

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.

-bjmq

http://lawprofessors.typepad.com/mergers/2009/10/say-on-pay-great-white-north-edition.html

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