Vancouver – Members of the Canadian Securities Administrators (CSA) are issuing exemptions from certain filing requirements in connection with the deferred launch of SEDAR+, the new platform to be used for filing, disclosing and searching for information on Canada’s capital markets. The CSA now intends to launch SEDAR+ on July 25, 2023, with a contingency date in September.
Due to the implementation deferral, capital market participants are required to continue using SEDAR, and other systems currently in use for local filings, until the start of the new system cutover period, which will be announced by the end of June.
As a result:
- Each CSA member is issuing a substantially similar blanket order that will generally allow market participants to file on SEDAR or through other means until the beginning of the new cutover period, when neither SEDAR nor SEDAR+ will be available for filing.
- The blanket orders will revoke the exemptions that were issued in connection with the originally planned June 2023 cutover, and CSA members will issue new blanket orders soon to address the new cutover period.
- The new fee model, which reduces overall system fee costs by seven per cent, will still come into effect, as planned, on June 9, 2023, and will apply to all filings on SEDAR and the National Registration Database (NRD) until the beginning of the cutover period, as well as filings on SEDAR+ and the NRD after the launch date.
- Filers will be able to pay system fees on SEDAR instead of SEDAR+. Details on how to apply the new systems fee model in SEDAR until the start of the cutover period can be found on the SEDAR+ Launch page on the CSA website.
At launch, SEDAR+ will consolidate and replace SEDAR, the national Cease Trade Order (CTO) database, the Disciplined List (DL) database and certain filings currently made in paper or in the British Columbia Securities Commission’s eServices system and the Ontario Securities Commission’s electronic filing portal. SEDAR+ will also include a consolidated reporting issuers list from all provincial and territorial regulators.
Future phases of SEDAR+ will replace the System for Electronic Disclosure by Insiders (SEDI), the NRD and the remaining filings in local systems.
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
For SEDAR+ transition support for filers and issuers, please contact:
Canadian Securities Administrators
For investor inquiries, please contact your local securities regulator.