News Release

Montreal – The Canadian Securities Administrators (CSA) launched a survey today to seek feedback on the System for Electronic Disclosure by Insiders (SEDI).   

The electronic filing system, launched in June 2003, is far more efficient than its precursor, a paper and fax based system, and it provides for accurate, detailed information for regulators and the investing public, said Jean St-Gelais, Chair of the Canadian Securities Administrators and President of the Autorité des marchés financiers du Québec. “SEDI brings efficient public access and transparency to insider trade reporting by making information about insider trades available to investors electronically for all jurisdictions in Canada.  We have heard comments from some system users that the system could be more user friendly.”

“We are currently investigating ways to enhance SEDI.  As part of this process, we are asking for feedback from everyone who uses SEDI,” said St-Gelais.  “Regulators from coast to coast encourage all SEDI users and interested parties to participate in research on how the system could be improved or streamlined.  If we can improve it, we will.”

The survey is accessible online at: www.SEDI.ca.

The CSA, the council of the securities regulators of Canada’s provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets.