SEDAR+ is coming. With this, companies' top goals are ensuring that they are easily able to transition to the new system and are ready to file when the new platform goes live on July 25, 2023.
However, many companies have not completed the early onboarding process to be able to file on Day 1 of when the new system goes live. As a result, important company filings could be delayed this July and onward.
With SEDAR+ being the mandatory public company document filing platform in Canada, let's dive into how your company can easily transition to the new SEDAR+ platform. Plus, learn all things SEDAR+.
SEDAR+ Defined SEDAR+ Overview SEDAR+ Timeline SEDAR+ Transition SEDAR+: How to Onboard SEDAR+ FAQs for Onboarding SEDAR+ Forms SEDAR+ Filing Services SEDAR Frequently Asked Questions (FAQs) Benefits of SEDAR+ SEDAR+ Pilot Program Overview What is SEDAR?
SEDAR+ Defined
What is SEDAR+? The brand new and modernized SEDAR+ is a web-based platform that builds on the legacy SEDAR system of the last 25 years. The system is used for electronically filing most securities related information with the Canadian securities regulatory authorities. SEDAR+ will bring all Canadian securities regulatory information into one place for easy, intuitive and simplified access. Overall, there will be an improved user experience and the system will provide the technology of the future for Canada’s capital markets. |
SEDAR+ Overview
SEDAR is transitioning to an all-new platform called SEDAR+.
Under the guidance of the Canadian Securities Administrators (CSA), the new platform will transition from the old legacy platform into the modern technology future. Importantly, the new platform will increase benefits for all stakeholders in Canada's securities markets.
SEDAR+ will collect and forward a comprehensive collection of regulatory filings and financial statistics in Canada, with much improved efficiency and transparency all in one integrated place.
SEDAR+ Timeline
The CSA is planning to launch SEDAR+ on July 25, 2023, at 7am ET. There is an exclusive period from January 3 to April 14, 2023, to prepare your company to be ready to file once SEDAR+ goes live.
How to Onboard to SEDAR+
Download and electronically complete the 3 onboarding forms to complete SEDAR+ onboarding. Specifically, the onboarding forms include the EFA, FAAF, and the appropriate Supplementary Information Form. Afterwards, email the completed forms to our team at office@newsfilecorp.com for processing.
Instructions for filling out onboarding forms:
It is helpful for you to review the following instruction links before completing the required onboarding forms.
3 forms to complete for SEDAR+ onboarding
The three forms below must be submitted in electronic format. Importantly, the CSA will not accept printed agreements.
The FAAF must be signed either by typing a conformed signature using the "fill and sign" feature of your PDF viewer or by inserting an image of your signature. Furthermore, the CSA will not accept agreements executed with Docusign or similar applications.
Supplementary Information Form (choose one)
Benefits of onboarding to SEDAR+
Completing the process by April 14, 2023 will provide two major benefits:
Being able to file on July 25, 2023 (Day 1)
Saving time and effort via an expedited process for submitting the required information
We strongly encourage every client to complete their Onboarding by April 14th. Moreover, we are here providing support throughout the process.
Authorization
All companies will be required to give filers authorization to file corporate documents on their behalf. No authorizations will be grandfathered over to the new SEDAR+ platform.
As a high volume filer and SEDAR+ pilot project member, Newsfile will receive a head start on having clients grant authorization. This is so that when the launch date comes in June, high volume filers and their clients will not be left scrambling with hundreds or even thousands of authorization requests to submit.
To complete authorizations, companies will be required to grant authorization to their chosen filers.
By naming Newsfile as your primary filing agent and providing us with an FAAF, we can submit your EFA and Supplementary Information on your behalf to have your company set up by the CSA with SEDAR+. This is the easiest method to complete your SEDAR+ Onboarding and will also grant Newsfile authorization to file on behalf of your company.
SEDAR+ Benefits
The CSA says that the SEDAR+ platform will save time, reduce costs, and simplify payments. Along with these benefits, Newsfile identified specific operating benefits with the new platform.
Fee calculator
Enhanced operating hours
Single source for information
SEDAR+ Pilot Program Overview
The Pilot Program was created to help design and generate plans to improve SEDAR+ before it is rolled out to the public in 2023. The pilot program is important to Canada's capital markets.
Newsfile's role in the pilot program
Newsfile is one of a small, select group of approximately seventeen high-volume SEDAR users that was asked to participate in the new Pilot Program.
As a pilot program member, Newsfile provides feedback that will be used by the Canadian Securities Administrators (CSA) to prioritize critical fixes and enhancements to the new system before it is rolled out to the public in July 2023.
Importance of the Pilot Program
The Pilot Program is helping the CSA prioritize critical fixes and enhancements during the testing phase of the new platform.
Through testing and feedback, pilot program members are helping to shape and improve what the new program will look like for all stakeholders in Canada’s capital markets.
Select staff members of provincial regulators and a small number of high-volume SEDAR system users are part of the pilot program
Users spend time becoming familiar with the platform’s new user experience and streamlined filing processes (English and French)
Users complete filings with real company data to test out the new system
Pilot program members provide feedback that is used to prioritize critical fixes and future enhancements to before the new system it is rolled out to the public in July 2023
What is SEDAR?
SEDAR is the System for Electronic Document Analysis and Retrieval, the electronic filing system for the disclosure documents of public companies and mutual funds across Canada.
Namely, it is a mandatory document filing and retrieval system for Canadian public companies administered by the Canadian Securities Administrators.
How many SEDAR filings are done each year?
The current system processes 170,000 filings per year. In addition, there are 2.5 million SEDAR filing records, 5 million filing attachments and 60,000 user profiles.
Read more from the Newsfile Blog, including newswire, SEDAR, EDGAR, PR, IR, media, the latest industry trends and more.
Image by jcomp on Freepik Image by pch.vector on Freepik Image by rawpixel.com on Freepik
