The CSA is modernizing the electronic filing and data access systems that underpin Canadian securities regulation. SEDAR+ is the new, secure web-based platform that will be used by all market participants to file, disclose and search for information in Canada’s capital markets.
SEDAR+ will be easier to use and more intuitive than the legacy systems it is replacing, which can no longer respond to the modern needs of market participants. The legacy systems do not “speak” to each other and require users to manually connect the various data from each system to perform their Canadian securities due diligence.
SEDAR+ will consolidate multiple legacy systems into a single platform, including SEDAR (System for Electronic Document Analysis and Retrieval), CTO (Cease-Trade Order Database), DL (Disciplined List), SEDI (System for Electronic Disclosure by Insiders), NRD (National Registration Database) and NRS (National Registration Search).
Improving the User Experience for Canadian Market Participants
We have a vision of a seamless platform across Canada that re-engineers many of the current processes and reduces the time and cost of regulatory compliance. For the CSA’s integrated and comprehensive technology approach, SEDAR+ is a foundational step.
Market participants will appreciate an improved user experience, thanks to many new features and functionalities. SEDAR+ will:
- Be a single point of access to all filings, have better search functionality and provide an integrated view of issuer information.
- Remove the requirement to install a desktop application install to enter their filings; SEDAR+ will be accessible from a browser.
- Offer enhanced cybersecurity and privacy management.
- Consolidate systems and standardize inputs to enable better quality data.
- Automate the process for calculating filing fees (with few exceptions) and simplify filing fee payment.
- Increase the scope of filings and make new user types available.
Over the coming years, the CSA will migrate the functionality and historical data of legacy systems to SEDAR+ in three phases. By the end of 2022, SEDAR, Disciplined List and Cease Trade Order databases, exempt market systems and local filing systems will migrate to the new SEDAR+ platform.
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