S E D A R
New Filings Search Database Issuer Profiles Web Links About SEDAR Site Help SEDAR Release 8.5


Please note that the SEDAR FAQ for Exempt Market Filers can be found immediately after the SEDAR General FAQ

SEDAR General FAQ

SEDAR Frequently Asked Questions
Background On Sedar
How To Contact Sedar
Sedar Rules and Forms
Subscriber Information
Becoming a Filing Service Subscriber

1.

What is SEDAR?

 

SEDAR is the System for Electronic Document Analysis and Retrieval, the electronic filing system for the disclosure documents of issuers across Canada.

2.

Who files documents on SEDAR?

 

All Canadian issuers that have issued securities under a prospectus or prospectus exemption are generally required to file their documents in the SEDAR system. In addition, some third parties who are involved in transactions such as take-over bids or proxy contests may be required to file.

3.

What documents are filed on SEDAR?

 

Most of the documents which are legally required to be filed with the Canadian Securities Administrators and many documents which may be filed with the Canadian exchanges (market centres) are included in the SEDAR system. For insider reports, please refer to www.sedi.ca. A complete list of all documents which are included is contained in the SEDAR Filer Manual found here.

4.

What is a SEDAR profile?

 

A SEDAR profile contains basic information about a company, investment fund or investment fund group, such as its addresses, contact information and stock exchange listing.

5.

What information is available on this Web site?

 

This Web site contains copies of all documents filed in the SEDAR system that have become available to the public, as well as profiles of all SEDAR filers. Documents filed only with Canadian exchanges are not available on this Web site.

6.

When are documents filed on SEDAR available via the SEDAR Data Distribution Service?

 

When an issuer files prospectus related documents with a member of the Canadian Securities Administrators through SEDAR, the documents are initially private and confidential. The securities regulatory authorities then make the appropriate documents publicly available after a review process. These documents are made available via the SEDAR Data Distribution Service, from the moment they are made “public”. Continuous disclosure documents such as news releases, financial statements, notice of meeting date and annual reports do not require the securities regulatory authorities’ review and are immediately available via the SEDAR Data Distribution Service. For information on the SEDAR data Distribution Service please contact the CSA Service Desk at 1-800-219-5381.

7.

When are documents made available on this Web site?

 

The SEDAR filing application is available for Canadian issuers to file their prospectus related, exempt market and continuous disclosure documents Monday – Friday, 7 am – 11 pm ET (excluding statutory holidays). When an issuer files prospectus related documents with the Canadian securities regulatory authorities through SEDAR, the documents initially have a status of "private". The Canadian securities regulatory authorities then make the appropriate documents publicly available after a review process. These public documents will then be accessible on this Web site within fifteen minutes. Continuous disclosure documents, such as news releases, financial statements, notice of meeting date, annual reports and exempt market documents do not require the securities regulatory authorities review and are available on the Web site within fifteen minutes of their filing on SEDAR. Updates to an issuer's profile also appear on the SEDAR Web site within fifteen minutes of their filing on SEDAR (see FAQ no. 13).

8.

Why are there different data formats for filed documents?

 

In developing SEDAR, the Canadian Securities Administrators tried to balance the needs of filers seeking a way to efficiently file their documents on SEDAR against the desire to make the documents easily available to the public. The decision was made to adopt the PDF format as the standard for SEDAR filings. Since then the SEDAR filing application has been changed to also accept XML format for XBRL filings and XLSX format for certain exempt market filings.

9.

Who is responsible for management of SEDAR?

 

On January 11th, 2014, the operation of SEDAR and the SEDAR website was transferred from CDS INC. to a new service provider engaged by the British Columbia Securities Commission, Alberta Securities Commission, Ontario Securities Commission and Autorité des marchés financiers, as representative stakeholders of the thirteen Provincial and Territorial securities regulatory authorities of Canada. As of that date, the Alberta Securities Commission is the CSA member authorized to grant licenses and enter into agreements with users of SEDAR and the SEDAR website.

10.

How can I become a SEDAR filer?

 

To become a SEDAR Filer, click here, or contact the CSA Service Desk at 1-800-219-5381.

11.

How can I become a SEDAR data republisher or reseller?

 

For commercial users, if you are interested in subscribing to the SEDAR Data Distribution Service contact the CSA Service Desk at 1-800-219-5381.

12.

What are the current SEDAR System Fees?

 

SEDAR System Fees are charged pursuant to Multilateral Instrument 13-102 System Fees for SEDAR and NRD.

13.

How do I update my issuer profile?

 

Your issuer profile is stored on the SEDAR filing application server and can be accessed by any authorized SEDAR user. If you have installed the SEDAR software, you can modify your profile using the Update function in the Profile Management module. If you utilize a SEDAR filing agent to undertake your SEDAR filings to the securities regulatory authorities, please advise your agent to make the necessary changes to the profile. The updates made to the profile on SEDAR will appear on the SEDAR Web site within fifteen minutes.


SEDAR FAQ for Exempt Market Filers

1.

Why have exempt market filings on SEDAR?

 

Participating jurisdictions collectively receive thousands of exempt market filings each year from both reporting and non-reporting issuers. Providing exempt market filings in paper format limits their ability to analyze the information in the documents and increases the administrative burden of handling the filings. Also, receiving the filing in paper format impacts the timeliness and ease with which they can make public the publicly available information in the filings.

Using SEDAR provides benefits to issuers, including:

  • enabling issuers to make filings in multiple jurisdictions through a single electronic system;
  • allowing both reporting and non-reporting issuers to have their filings, including exempt market filings, in one location under a SEDAR profile, while still maintaining confidential treatment of sensitive investor information; and
  • allowing issuers to verify the accuracy and completeness of their filing record without having to make an information request to the applicable jurisdictions

2.

Can I make my exempt market filings to all jurisdictions?

 

You can use SEDAR to make exempt market filings in all jurisdictions of Canada except British Columbia and Ontario. An issuer must use BCSC eServices to file in British Columbia and the OSC’s Electronic Filing Portal to file in Ontario. A longer-term project is underway to create a single integrated filing system for exempt market filings across Canada.

3.

How do I make a filing on SEDAR?

 

In order to make a filing on SEDAR, an issuer could become a SEDAR subscriber and make the filing itself (see General FAQ no. 10) or hire a filing agent to make the filing. Filing agents include law firms, financial printers, and trust companies acting as transfer agents and registrars and other service providers. To obtain a list of filing agents, please email EMFonSEDAR-Support@csa-acvm.ca or contact the CSA Service Desk at 1-800-219-5381.

4.

What is the cost to an issuer to make a filing on SEDAR?

 

There is no charge to become a SEDAR subscriber or to maintain a SEDAR subscription. However, if an issuer chooses to become a SEDAR subscriber and make its own filings, they would need to invest the time to learn how to use the SEDAR system. In addition, there would be a cost to set up and maintain an EDI account, through a recognized Canadian financial institution.

  • If an issuer uses a filing agent to make filings and/or the electronic fee payment, the filing agent would charge the issuer for their filing services.
  • Issuers that make a limited number of exempt market filings will likely find it more convenient and/or cost effective to hire a filing agent.

5.

What are the system fees for exempt market filings on SEDAR?

 

Starting December 7, 2015 until May 24, 2016, exempt market filings can be filed on SEDAR on a voluntary basis and no SEDAR system fee is applied.

6.

What is the access level for a report of exempt distribution filing on SEDAR?

 

A report of exempt distribution is divided into two sections: the body of the report, which is generally public information; and Schedule 1 of the report, which includes personal information about each investor and generally confidential information. Since the information on Schedule 1 is generally kept confidential, a filer will need to detach Schedule 1 from the body of the report and file it separately in a specific document type on SEDAR that allows the Schedule 1 information to remain private.

Currently, SEDAR documents can be set to one of the following access levels:

  • Auto-public – public immediately, displays on SEDAR.com which is updated every 15 minutes;
  • Private – initially private, but if/when the regulator marks it public, it will display on SEDAR.com which is updated every 15 minutes; and
  • Private non-public – will remain private, never displays on SEDAR.com.

The filer will be prompted by the SEDAR system to acknowledge that it has removed Schedule 1 from the body of the report of exempt distribution prior to making such a filing at the “auto-public” access level. These prompts will include (1) clear instructions and a warning on SEDAR to remove the sensitive personal information prior to filing the main body of the report of exempt distribution and (2) a requirement for the filer to acknowledge that it has removed such information before the SEDAR system will accept such filings. If a filer identifies that it has inadvertently made confidential information public, they can contact one of the participating jurisdictions and the filing will be made private upon notification.

7.

Are disclosure documents filed under section 37.2 of the Securities Regulation (Québec) displayed on SEDAR.com?

 

Disclosure documents filed under 37.2 of the Securities Regulation (Québec) are not displayed on SEDAR.com.

8.

I am an exempt market filer; what type of profile should I create?

 

Either an Investment fund profile or an Other issuer profile must be created depending upon the type of exempt market filer. The Investment fund profile is generally used by an issuer that is a mutual fund whereas the Other issuer profile is generally used by all other types of issuers. Refer to SEDAR Filer Manual for more information.

9.

How do I file for multiple investment funds?

 

Similar to how a report of exempt distribution is required for each issuer or investment fund, a separate project should be created for each report of exempt distribution report that is required to be filed.

10.

I am a foreign issuer. Does this amendment apply to me?

 

A foreign issuer that falls within the definition of “foreign issuer (SEDAR)”, as defined in NI 13-101, is not required to make electronic filings on SEDAR. A foreign issuer may continue to file its exempt market filings in paper format in the participating jurisdictions. However, a foreign issuer can elect to be subject to NI 13-101 and make its filings, including exempt market filings, on SEDAR. This election is made by completing and filing a SEDAR Form 5 Notice of Election by Foreign Issuer (SEDAR) with the securities regulatory authority in each applicable jurisdiction.

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