News Release

Vancouver – The B.C. Securities Commission gives “the highest standard of access to information by a public agency” according to some of Canada’s experts and professionals in the field of electronic content.

The BCSC e-services -- a Web-based, interactive public filings system – has won the e-Content Institute’s award for legal products.

“This site meets the highest standard of access to information by a public agency,” said the institute in a news release today.

“Essentially, the editors and programmers at the BCSC have done the work for you by analyzing and categorizing all the documents in their collections, facilitating access, expediting research and by making administrative and regulatory processes cheaper and faster.”

The BCSC e-services project was developed to give the public and those making filings with the commission up-to-date information about the processes, services and documents filed with the commission. The Web-based system also allows individuals and businesses to easily research and file their applications to the commission -- improving the quality and processing time of public filings. (The BCSC receives an average of 500 applications each year asking for relief from certain regulatory requirements under securities legislation.)

Until the system was launched in 2003, companies looking to raise funding without a prospectus had to file hard copy reports documenting the sales and commissions associated with each private placement with the BCSC (more than 5,000 reports each year). BCSC e-services system allows companies to file these reports electronically, virtually error-free.

“Our mission is to help foster a dynamic and competitive securities industry that provides investment opportunities and access to capital. To do this, we must continually innovate and seek creative solutions to reducing the paper burden on industry, and e-services is one example of this. We are very proud of this award,” BCSC Executive Director Steve Wilson said. “Our e-services system is a unique research tool among securities regulators.”

BCSC representatives were on hand last evening to receive the 2003 Canadian e-Content award in the best Legal product category at the e-Content Institute’s annual awards gala in Toronto.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities and exchange contracts within the province.