Securities Law

BCN 2001/75 - BC Instrument 55-502 Extension of Filing and Reporting Deadlines for the System for Electronic Disclosure by Insiders (SEDI) [BCN - Rescinded]

Published Date: 2001-10-26
Effective Date: 2001-10-29

The Commission has made BC Instrument 55-502.  Section 1 of BCI 55-502 is effective October 29, 2001; and section 2 is effective from November 13, 2001 to and including December 16, 2001.

The purpose of BCI 55-502 is to change the effective date of certain provisions of National Instrument 55-102 System for Electronic Disclosure by Insiders (SEDI) and related instruments (the “National Instrument”) to give issuers and insiders more time to comply with the National Instrument. 

The National Instrument requires SEDI Issuers to file their issuer profile supplement in SEDI by November 5, 2001.  The Canadian Securities Administrators (the “CSA”), have decided to extend this filing requirement until November 19, 2001.  The CSA have further decided to extend the effective date of the insider and issuer event reporting provisions from November 13, 2001 to December 17, 2001.  Until December 16, 2001, insiders should continue to file insider reports in paper format in the same manner as they currently file these reports.

In British Columbia, amendments to the Securities Act and Securities Rules will reduce the period within which trades by insiders must be reported from 10 days of the end of the month in which the trade takes place to 10 days after the trade.  This change was to have come into effect on November 13, 2001 to coincide with the requirement to file insider reports electronically on SEDI.  The Commission has decided to postpone this change until SEDI is fully operational on December 17, 2001.

BCI 55-501 Filing Insider Reports by Facsimile was to have been revoked effective November 13, 2001.  We will now revoke BCI 55-501 on December 17, 2001 instead.

Questions relating to BCI 55-502 may be referred to:

Laura J. Startup
Senior Legal Counsel
Legal and Market Initiatives
British Columbia Securities Commission
(604) 899-6748
(800) 373-6393 (in B.C. or Alberta)
lstartup@bcsc.bc.ca


October 26, 2001

 


Douglas M. Hyndman
Chair


Ref: National Instrument 55-102 System for Electronic Disclosure by Insiders (SEDI)
BCI 55-502 Extension of Filing and Reporting Deadlines for the System for Electronic Disclosure by Insiders (SEDI)


This Notice may refer to other documents. These documents can be found at the B.C. Securities Commission public website at www.bcsc.bc.ca in the Commission Documents database or the Historical Documents database.