If you have a question that is not answered here,
call the Securities Division at 306-787-5645.
Insider Reporting
Q: Do I have to file an insider trading report in Saskatchewan?
A: If you are an insider of a reporting issuer in Saskatchewan, you are required to file a report each time you make a trade in the securities of that issuer.
Q: Who is an insider?
A: The term "insider" is defined in clause 2(1)(w) of The Securities Act, 1988 and generally includes a director or senior officer of a reporting issuer or a person that has beneficial ownership or control or direction over more than 10% of
the voting securities of the issuer.
Q: What must insiders report and when?
A: Every insider of a reporting issuer must file an insider report in Form 34 when they first become an insider of the issuer.
You may also use Insider report form 55-102F6. This is a PDF document which can be filled in online and printed out for sending. After your initial report you must file a report within
10 days after you make a trade in securities of the issuer.
Q: Where must the insider reports be filed?
A: Insider reports must be filed with:
Securities Division
Financial Services Commission
6th Floor, 1919 Saskatchewan Drive
Regina, Saskatchewan
S4P 3V7
Fax: (306) 787-5899
Q: How may insider reports be filed?
A: Insider reports can be filed with the
Securities Division:
by facsimile, at (306) 787-5899
by hand as outlined below, or
by mail, to the address listed above
Filing by fax:
If you file by facsimile, you must be sure to comply with the requirements of
GRO 55-904 Exemption from Certain Insider Reporting Requirements.
Filing by mail:
If you file by mail, you must send in an original, signed Insider Report. Remember that the report must be received by the Commission on or before the due date, so mail your reports several days before they are due.
Filing by hand:
Insider reports can be delivered by hand to the commission on the
6th Floor, 1919 Saskatchewan Drive, Regina, Saskatchewan during normal business hours (8:00 a.m. to 5:00 p.m.).
Q: Are there any exemptions available from filing insider reports with the Commission?
A: Yes, GRO 55-904 Exemption from Certain Insider Reporting Requirements provides
exemption from filing insider reports with the Financial Services Commission if the person is an insider of a reporting
issuer that was not incorporated in Saskatchewan and doesn't have
its head office in Saskatchewan, and if the insider is complying
with insider reporting requirements in the jurisdiction in which the
issuer is based.
Q. Where can I find more information about insider
reporting?
CSA Staff Notice 55-308 Questions on Insider Reporting answers
detailed questions about insider reporting.
TOP
Exemptions
Q: Do I always need to comply with The Securities Act, 1988 if I want to raise money for my business?
A: You must comply with the Act if you are going to issue securities to raise money for your business. The requirements range from getting registered and preparing a prospectus to doing nothing at all if you can use an exemption in the Act. You should
consult your professional advisors.
Q: How can I raise money for my business without getting registered and preparing a prospectus?
A: You can raise money for your business without meeting the registration and prospectus requirements under exemptions contained in The Securities Act, 1988. The paper How to Raise Capital Using Exemptions gives details of these exemptions.
Review the paper and consult your professional advisors.
Q: Can Commission staff give me advice about raising capital for my business?
A: Commission staff are always happy to answer your specific and concise questions, but we do not have the mandate or the resources to provide business advice or legal advice. It would be helpful if you have reviewed the paper How to Raise Capital Using
Exemptions before you make your inquiry.
Q: How can I make inquiries of Commission staff?
A: Commission staff will answer your questions either by e-mail, telephone or meeting. But your questions should be specific, requiring only short answers. We don't have the mandate or the resources to provide business or legal advice. We can't engage in
long discussions or give detailed instructions about how to carry out a securities offering. You should get help from your professional advisors.
Q: Can I file material that I must file under The Securities Act, 1988 with the Commission by e-mail?
A: No, you can't file this material by e-mail. It must be filed in paper form. We will accept some material filed by fax, provided that a hard copy follows in the mail.
Q: Can I make an application to the Commission for an exemption from the requirements of The Securities Act, 1988 by e-mail?
A: No, applications for exemption from the requirements of the Act must be filed in paper form. See Local Policy Statement 12-601 Applications to the Saskatchewan Securities Commission [PDF File] for
more details. Some applicants fax their applications with the hard copy following by mail or courier.
TOP OF PAGE
