Securities Law

BCN 2002/09 - BC Instrument 55-503 Interim Requirements during the Suspension of the System for Electronic Disclosure by Insiders (SEDI) [BCN - Rescinded]

Published Date: 2002-02-11
Effective Date: 2002-02-07

The Commission has made BC Instrument 55-503.  This Instrument provides exemptions from the electronic filing of insider reports, and related insider and issuer information, in the System for Electronic Disclosure by Insiders (SEDI).

SEDI first went live on October 29, 2001 and became fully operational on January 21, 2002.  On January 31, 2002, SEDI was shut down due to technical difficulties. Although every effort is being made to remedy the situation as soon as possible, we do not know when SEDI will be back on-line.  Until SEDI is fully operational, BCI 55-503 relieves issuers and insiders from the electronic filing requirements set out in National Instrument 55-102 System for Electronic Disclosure by Insiders (SEDI) (“NI 55-102”).  The Commission will advise you, by notice, when a date to bring SEDI back into operation has been determined.

Insiders are reminded that during the period that SEDI’s operation is suspended, they are required to comply with their insider reporting obligations by filing in paper format on Form 55-102F6 within 10 days after the reportable transaction.  Paper filings may be made by prepaid mail, personal delivery or by facsimile to the address or facsimile numbers set out in Form 55-102F6.

For further information please see CSA Staff Notice 55-305.  Questions relating to BCI 55-503 may be referred to:

Pamela J. Egger
Senior Legal Counsel
Corporate Finance
British Columbia Securities Commission
(604) 899-6867
(800) 373-6393 (in B.C. or Alberta)
pegger@bcsc.bc.ca


February 7, 2002

 


Douglas M. Hyndman
Chair


Ref: National Instrument 55-102 System for Electronic Disclosure by Insiders (SEDI)
BCI 55-503 Interim Requirements during the Suspension of the System for Electronic Disclosure by Insiders (SEDI) dated February 7, 2002
Canadian Securities Administrators’ Staff Notice 55-305


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be found at the B.C. Securities Commission public website at www.bcsc.bc.ca in the Commission Documents database or the Historical Documents database.