55-304 - System For Electronic Disclosure By Insiders (Sedi) National Instrument 55-102 [CSA Staff Notice - Rescinded]
| Published Date: | 2001-12-07 |
|---|---|
| Effective Date: | 2001-12-14 |
| Rescinded Date: | 2003-04-11 |
CANADIAN SECURITIES ADMINISTRATORS’ STAFF NOTICE 55-304
SYSTEM FOR ELECTRONIC DISCLOSURE BY INSIDERS (SEDI)
NATIONAL INSTRUMENT 55-102
Electronic Reporting Deadlines Shifted - Insider and Issuer Event Reporting Start January 21, 2002.
The Canadian Securities Administrators (“CSA”) have shifted the date for full implementation of the System for Electronic Disclosure by Insiders (SEDI), the web-based insider reporting system, to Monday, January 21, 2002. Beginning on that date, insiders and issuers must file electronically their insider and issuer event reports using SEDI.
SEDI, located at www.sedi.ca, first went live on October 29, 2001 and was scheduled to become fully operational on December 17, 2001. The date has been pushed back to allow system designers to correct a software application error, and to avoid introducing a new mandatory reporting system during a period when many people are on holidays and the typically high volume year-end filings are due.
Until January 21, 2002, the CSA will either, depending on the jurisdiction, refrain from enforcing, vary the time periods of, or issue blanket exemptive relief from, the relevant provisions of National Instrument 55-102 System for Electronic Disclosure by Insiders (SEDI) and related instruments, requiring issuers to file electronically issuer event reports, and insiders to file electronically their insider trade reports. Until January 21, 2002, insiders should continue to file insider reports in paper format in the same manner as they currently file these reports.
During the period that the software application error is being corrected, SEDI will be unavailable for SEDI issuers, agents and insiders to register, file issuer profile supplements, or insider profiles. Upon SEDI becoming available again, reporting issuers who were SEDI issuers as at October 29, 2001, but who have not yet filed their issuer profile supplements, should ensure their issuer profile supplements are filed as soon as possible, or contact their securities regulatory authority. Reporting issuers who become SEDI issuers after October 29, 2001, have three business days to file their issuer profile supplements.
Insiders may, but are not obliged to, file insider profiles, provided that their insider profiles are filed before their first insider report is required to be filed on SEDI.
For further information, please contact:
Melinda Ando
Legal Counsel
Alberta Securities Commission
Telephone: (403) 297-7274
E-mail: melinda.ando@seccom.ab.ca
Agnes Lau
Deputy Director, Capital Markets
Alberta Securities Commission
Telephone: (780) 422-2191
E-mail: agnes.lau@seccom.ab.ca
Andrew Richardson
Manager, Financial and Insider Reporting
British Columbia Securities Commission
Telephone: (604) 899-6730
or (800) 373-6393 (in B.C. and Alberta)
E-mail: arichardson@bcsc.bc.ca
Laura Startup
Senior Legal Counsel
British Columbia Securities Commission
Telephone: (604) 899-6748
or (800) 373-6393 (in B.C. and Alberta)
E-mail: lstartup@bcsc.bc.ca
Cynthia Rogers
Senior Legal Counsel, Corporate Finance
Ontario Securities Commission
Telephone: (416) 593-8261
E-mail: crogers@osc.gov.on.ca
Winnie Sanjoto
Legal Counsel, Corporate Finance
Ontario Securities Commission
Telephone: (416) 593-8119
E-mail: wsanjoto@osc.gov.on.ca
Sylvie Lalonde
Conseillère en règlementation
Commission des valeurs mobilières du Québec
Telephone: (514) 940-2199 ext. 4555
E-mail: sylvie.lalonde@cvmq.com
December 14, 2001