IntroductionIn provision for SEDI's launch which will take place on October 29, 2001, this online help start-up guide is intended to assist those who want to view reports as public users and those who are obliged by law to prepare and file insider reports and related filings. In accordance, the terms "you" and "I" apply to insiders, agents and issuer representatives, as appropriate. The main audience of this online start-up guide is the following:
If you require additional information about SEDI, see Canadian Securities Commission Contact Information.
The information found in Getting Started with SEDI is not a complete
guide to SEDI and is subject to change prior to launch and subsequent
to SEDI's launch scheduled for October 29, 2001. Be advised that from
October 29, 2001, you should refer to www.sedi.ca for more detailed information
concerning SEDI's full functionality. |
SEDI is the System for Electronic Disclosure by Insiders, established by the Canadian securities regulatory authorities. SEDI facilitates the filing and public dissemination of insider reports in electronic format via the Internet and the Web site SEDI.ca.
Insiders who are required by provincial securities laws to file insider reports in electronic format must use this Web site to make these filings. Insiders of foreign reporting issuers that are not required to file their disclosure documents in SEDAR, are exempt from filing in SEDI but are still required to file insider reports in paper format with the applicable securities regulatory authority. To facilitate insider reporting in SEDI, issuers filing in SEDAR are required to file in SEDI certain issuer information, including their lists of security designations and issuer event information.
The Canadian Securities Administrators have appointed CDS INC., a subsidiary of The Canadian Depository for Securities Limited, to operate SEDI.
The rules governing the electronic filing of insider reports through SEDI and the specific legal obligations of each insider are set forth in a National Instrument (55-102), five related Forms (55-102F1, 55-102F2, 55-102F3, 55-102F4, 55-102F5) and a Companion Policy (55-102CP).
SEDI benefits insiders, securities regulators and the market by:
permitting an insider to securely file insider reports in electronic format over the Internet using commonly available web browsers
permitting an insider to satisfy the legislative requirements of the applicable Canadian securities regulatory authorities by filing its report once on a system which is available to users 24 hours a day seven days a week, subject to interruptions for maintenance and technical upgrades
improving public
access to insider reports by making such reports available on a Web site
shortly after they are filed.
Insider reporting serves two important functions:
it provides information to the market about the trading activities of directors, senior officers or significant shareholders of reporting issuers
it serves to deter
insider trading based on confidential information, since insiders know
they must disclose all of their trades to the public.
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The responsibility for complying with the
insider reporting requirement rests with the insider. Securities laws
may change from one jurisdiction to another. If you are uncertain about
your legal obligations you should seek advice from legal counsel who practises
securities law. |
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Copyright
2001 CDS INC. All rights reserved.
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