June 9, 2003 SEDI Filing Requirements Begin Today
Insiders and Issuers: SEDI Filing Requirements Begin Today
bcsc.bc.ca
Toronto – As of today, insiders are required to begin filing insider reports on the System for Electronic Disclosure by Insiders (SEDI). Before filing reports on www.sedi.ca, insiders or their agents must register as SEDI users and create insider profiles. Insiders who do not have an immediate need to file insider reports are encouraged to register later, a few days in advance of their first anticipated filing.
To comply with securities regulation, insider activity must be reported within 10 calendar days after a transaction takes place. Insiders of SEDI issuers are responsible for filing accurate and timely information about their transactions, including the:
type of security;
opening balance;
date of the transaction;
type of transaction, such as a buy or sell;
value or number of securities involved in the transaction;
the type of currency; and,
closing balance.
As well, starting today, SEDI issuers are required to file issuer event reports on SEDI within one business day of events such as mergers, amalgamations, stock splits and consolidations, among other events. SEDI issuers are reporting issuers, other than mutual funds, that are required to file disclosure documents in electronic format through the System for Electronic Document Analysis and Retrieval (SEDAR) - essentially all Canadian public companies. |
