NIN 96/16 - Request for Comment Dissemination of Insider Trade Report Data [NIN - Rescinded]

On October 12, 1995, the British Columbia Securities Commission introduced a new program to make insider trade reports and certain other Weekly Summary data available, without charge, on the Internet. That program has been very successful with the Commission's Internet site attracting over one hundred inquires per day and with several commercial information vendors republishing the insider report data in 'searchable' form. As a result, the Commission is now considering ceasing its publication of insider trade report data in the Weekly Summary. This step alone could reduce Weekly Summary paper consumption by approximately one million pages per year while still providing broad and timely access to insider trading data.

The Commission's Internet site contains current and historical summaries of insider trade reports, the defaulting reporting issuer list and reports of exempt securities distributions. The data can be accessed by using a World Wide Web browser (such as Netscape or Mosaic) or via 'anonymous FTP'. The site address is http://www.bcse.gov.bc.ca. The site can also be accessed through ftp://ftp.bcse.gov.bc.ca, however users not familiar with file transfer protocol (ftp) may find it more difficult to access the information through the ftp site.

For those persons who do not have Internet access, the Commission intends to provide access to insider trade report summaries at no charge at the Commission's offices at the 11th Floor, 865 Hornby Street, Vancouver, B.C., V6Z 2H4. Photocopies of the summaries will be available at a cost of 50 cents per page. Individuals may also view specific insider reports in files on payment of a file search fee.

The Commission expects that, over time, more information may be moved from the printed version of the Weekly Summary to the Internet.

The Commission is seeking comment from the public and the securities industry about its proposal to cease publication of the insider report summaries in the Weekly Summary. Of particular interest are comments from those who do not believe that publication on the Internet is an adequate alternative to publication in the Weekly Summary. Interested persons are invited to comment on the proposal in writing by July 24, 1996. Letters should be addressed to :

Brenda J. Benham
Director, Policy & Legislation
British Columbia Securities Commission
1100 - 865 Hornby Street
Vancouver, B.C.
V6Z 2H4

Comment letters submitted in response to Requests for Comment are placed in the public file and form part of the public record, unless confidentiality is requested. Although comment letters requesting confidentiality will not be placed in the public file, freedom of information legislation may require the Commission to make comment letters available. Persons submitting comment letters should therefore be aware that the press and members of the public may be able to obtain access to any comment letter.

DATED at Vancouver, British Columbia, on May 23, 1996

Douglas M. Hyndman
Chair

REF: NR#95/25