Refer to the SEDAR+ System Status page for operating hours.
- + Overview
- + Investors and other public users
- + Registered users
- What timeframe is used for filing review periods on SEDAR+?
- What timeframe is used for late fee calculations?
- I used to file a report of exempt distribution (RED) filing on SEDAR, electronic portals or as paper filings. Do I now file exclusively on SEDAR+?
- Where do I find my SEDAR subscriber and/or issuer number?
- Our organization had multiple SEDAR subscriptions, do all need to set up a separate SEDAR+ account?
- How do we add additional SEDAR+ users to our SEDAR+ account?
- Can we designate more than one Authorized Super User (ASU)?
- Why are newly updated SEDAR+ legal agreements required for documents that are dated and signed on or after June 1, 2023?
- What organizational account and issuer profile information will I need to provide during the registration process?
- + System Fees
What is SEDAR+?
The CSA is modernizing the electronic filing and data access systems that underpin Canadian securities regulation. SEDAR+ is the new, web-based technology platform used by all market participants to file, disclose and search for issuer information in Canada’s capital markets.
Available 24/7, SEDAR+ is easier to use, more intuitive, and more modern compared to the legacy systems.
What CSA National Systems are being migrated to SEDAR+?
Over the next several years, the CSA will migrate the functionality and historical data from the following legacy systems to SEDAR+.
On July 25, 2023, SEDAR+ replaced SEDAR, the Cease Trade Order (CTO) database, the Disciplined List (DL) database, and certain filings made in paper or in the British Columbia Securities Commision’s eServices system and the Ontario Securities Commission’s electronic filing portal. SEDAR+ also incorporates consolidated reporting issuers list from all provincial and territorial regulators.
Future phases will integrate the System for Electronic Disclosure by Insiders (SEDI), the National Registration Database (NRD) and the National Registration Search (NRS).
The staggered migration of these legacy systems to SEDAR+ has been thoughtfully designed to create the least disruption possible to system users. The project is being led by the CSA and supported by provincial and territorial regulators, with many dedicated teams across Canada working to bring SEDAR+ to market participants. Throughout the implementation of future migrations, ongoing application updates will continue to improve the system and meet evolving capital market needs.
How does SEDAR+ improve the electronic filing and data access experience?
Capital market participants will appreciate an improved user experience, thanks to the many new features and functionality of SEDAR+.
- SEDAR+ improves access to issuer information by consolidating multiple systems and databases, including the Cease Trade Order (CTO) Database and Disciplined List (DL), into one, publicly searchable site.
- SEDAR+ is a web-based application accessed through a browser, which removes the need for SEDAR subscribing organizations to install and update SEDAR software and maintain a VPN connection.
- SEDAR+ is available 24 hours a day, seven days a week in all time zones.
- SEDAR+ significantly simplifies the filing process for organizations that must report to multiple provincial or territorial regulators by providing a single portal for all filings.
- SEDAR+ provides filing organizations with more flexibility and control over their organization’s use of the system by providing the ability to create, maintain and delete user accounts – each with their own unique login credentials and ability to securely reset their own passwords.
- SEDAR+ saves filers time by automatically calculating filing, system and late fees, as well as processing payment when the filing is submitted.
- By consolidating systems and standardizing inputs, SEDAR+ has better quality data.
For the above reasons and many more, users will find SEDAR+ easier to use, more intuitive, and more modern than the legacy systems.
Why are the existing national systems being replaced?
The legacy national systems are at end-of-life with limited ability to respond to the evolving needs of capital market participants. In addition, they have operated as stand-alone systems that do not ‘speak’ to each other, leaving users to manually find and connect the various data from each system or website when performing their Canadian securities due diligence. The CSA’s vision of a seamless platform across Canada that re-engineers many of the current processes and reduces the time and cost of regulatory compliance has taken a foundational step with SEDAR+.
SEDAR+ will produce better data for all stakeholders, so that analysts, investors, governments, academics and others can easily access and analyze robust data from the system to gain deeper insights into the state of the Canadian capital markets.
What does SEDAR+ look like?
A series of videos, available to all users showcases some of the improvements and new features in the new system, demonstrate parts of the filing process and public search functions, and previews the general look and feel of the new, web-based platform.
Step-by-step videos on filing, information about SEDAR+ for public users and other SEDAR+ functionality are also available on the SEDAR+ Learning Centre.
+ Investors and other public users
How does SEDAR+ impact the Cease Trade Order and Disciplined List experience?
Previously, Cease Trade Orders (CTOs) and the Disciplined List (DL) were found in separate databases. That meant users had to search multiple sites to conduct their Canadian securities due diligence. SEDAR+ is a single source to search for information on regulatory actions, and to subscribe for email alerts.
By providing a single search on SEDAR+, it is easier to find administrative tribunal hearing decisions and CSA member decision information.
Regulatory alerts are also integrated with other data across SEDAR+. All CTOs, disciplinary actions and/or defaults are flagged on an organization’s or individual’s profile in SEDAR+ and can be searched for using advanced profile search.
Did my existing CTO and DL subscription preferences transfer over to SEDAR+?
No. New CTO and DL alert subscriptions must set up to receive regulatory action alert emails from SEDAR+. This can be done on the SEDAR+ homepage.
Are all historical filings available in SEDAR+?
All historical profile, Cease Trade Order and Disciplinary List data is available through SEDAR+.
SEDAR+ contains all documents filed after January 1, 2015. All prospectuses and applications filed on SEDAR since January 1, 1997 are also available in SEDAR+.
All public historical data filed prior to SEDAR’s retirement on July 20, 2023, are available via an archive report option on SEDAR+. This includes documents filed prior to January 1, 2015.
+ Registered users
What timeframe is used for filing review periods on SEDAR+?
Although SEDAR+ is available 24/7, for purposes of calculating the review period by a securities regulatory authority, it will generally be considered to begin on or immediately after the date of the filing of the document in SEDAR+. However, if the filing is not completed on a business day by 5:00 p.m. local time in the city where the securities regulatory authority is located, the date of the filing will be considered to be the next business day.
For example, if the Ontario Securities Commission (OSC) is principal regulator on an application, OSC’s internal review guideline allows a review period of 10 working days from receipt of a complete and adequate application to issue a first comment letter. An application that is received after 5:00 p.m. ET on September 1, 2023, will be recorded as received in Ontario on September 2, 2023. In this case, the first day of the review period is September 3, 2023 and the first comment letter would be due on September 16.
What timeframe is used for late fee calculations?
For late fee calculation purposes, the date and time a filing is made on SEDAR+ is based on Eastern Time (ET). As such, if a filing is made anytime between 00:00 ET and 23:59 ET, it will be considered filed on that day.
I used to file a report of exempt distribution (RED) filing on SEDAR, electronic portals or as paper filings. Do I now file exclusively on SEDAR+?
Yes. A single report of Exempt Distribution (NI 45-106) filing is completed on SEDAR+ regardless of jurisdiction. See the Report of Exempt Distribution Experience Guide for an overview of key differences between the legacy system and SEDAR+.
Foreign issuers, including issuers that used to meet the definition of ‘foreign issuer (SEDAR)’ under National Instrument 13-101 System for Electronic Document Retrieval and Analysis, are required to make their exempt market offerings and disclosure filings and pay the associated fees through SEDAR+. Visit the Filing access and authority section of this website for more information.
READ:CSA Notice regarding Coordinated Blanket Order 13-933 Temporary exemption from the requirement to transmit a report of exempt distribution through SEDAR+ in connection with distributions of eligible foreign securities to permitted clients
Where do I find my SEDAR subscriber and/or issuer number?
To help you, we’ve created step-by-step instructions: How to find your SEDAR subscriber, issuer and NRD number.
Our organization had multiple SEDAR subscriptions, do all need to set up a separate SEDAR+ account?
No. There is a one-to-one relationship between organizations and SEDAR+. That means organizations that had multiple SEDAR accounts only need one SEDAR+ account.
For legal entities that have multiple “branches” today (e.g., multiple SEDAR subscriber accounts), you will not be able to create multiple “branches” or “organizations” in SEDAR+. This is a legal requirement, and we are only able to accept one EFA from each legal entity. This legal requirement applies to law firms that may have multiple offices across the country.
Note: When setting up a SEDAR+ account, legal entities with multiple “branches” should contact the CSA Service Desk and provide a list of all SEDAR subscriber account details, which will be used to validate the submitted Filing Agent Authorization Forms against the existing filer access controls in SEDAR.
With this single subscriber account, you will be able to create user accounts for each employee who files, regardless of location. You can assign an internal group of your employees with the same filing permissions so they will be able to see and maintain each other’s drafts and submitted filings.
Legal entities that subscribe to SEDAR+ can only have one Pre-Authorized Debit (PAD) account on file. Since filing fees must be paid when the filing is submitted, some changes to organizational practices in how filing agents work with their clients and/or between branches may be required.
How do we add additional SEDAR+ users to our SEDAR+ account?
After you have registered for a SEDAR+ account, your designated Authorized Super User (ASU) will be provided with their SEDAR+ login credentials. From that point, they can add, modify or remove additional users – each with their own unique login credentials and ability to securely reset their own passwords. ASUs can change and reset passwords, create user groups, and assign issuer and filing permissions to those groups, so users only have access to the filings they are authorized for.
Can we designate more than one Authorized Super User (ASU)?
Yes. Your organization’s Authorized Super User (ASU) will be able to add additional ASUs and Authorized Users (AUs) after your organization’s account is set up.
- User Access Management courses
- Learning event recording: SEDAR+ Introduction to Authorized Super Users (ASUs)
Why are newly updated SEDAR+ legal agreements required for documents that are dated and signed on or after June 1, 2023?
The SEDAR+ legal agreements were updated to meet certain requirements under Quebec’s Bill 96, an Act representing French, the official and common language of Quebec.
These new documents must be used for all legal agreements dated and signed on or after June 1, 2023.
Organizations that have signed and dated legal agreements on or before May 31, 2023, may use the original documents, which were previously provided.
What organizational account and issuer profile information will I need to provide during the registration process?
During the registration process in SEDAR+, organizations must provide account and issuer profile information. Some information is required in SEDAR+, which was not previously required in SEDAR. This data is needed to enable some of the filing and regulatory features and functionality of the system.
+ System Fees
What is the new flat-fee model that came into effect on June 9?
Filers will benefit from the implementation of the flat-fee structure, as it reduces overall annual system fee costs by seven per cent, eliminates some filing fees and simplifies administration by providing specific fees by filing type.
What are the fee payment options in SEDAR+?
SEDAR+ uses Electronic Funds Transfer (EFT) process for all fees. Payments for Report of Exempt Distribution (RED) filings can also be made using credit cards.
Each organization must set up a single Pre-Authorized Debit (PAD) account on their SEDAR+ account. Since filing fees must be paid when the filing is submitted, each SEDAR+ account must have one PAD account on file to submit their first filing.
The combination of one SEDAR+ account for each filing organization, one PAD for each SEDAR+ account and automatic fee calculation and EFT payment may lead to some internal process changes for filing agents who file on behalf of multiple clients.
Does SEDAR+ allow organizations to use multiple bank accounts to pay fees?
No. Each filing organization must set up a single Pre-Authorized Debit (PAD) account on their SEDAR+ account. Since filing fees must be paid when the filing is submitted, each SEDAR+ account must have one PAD account on file to submit their first filing.
This single account will be used for payment when filings are submitted, whether an organization is filing for itself or on behalf of issuer clients or investment funds.
How are fees calculated?
SEDAR+ automatically calculates system fees, jurisdiction (regulatory) fees and any late fees associated with filing. This feature eliminates the need for regulators to validate fees or make corrections to manually calculated fees.
To automate these calculations, SEDAR+ requires more information in issuer profiles and throughout the filing process. This means some of the fields that were optional in SEDAR are mandatory in SEDAR+.
There are some known instances where the system is not calculating fees accurately. There are limited instances where the system is overcharging or undercharging fees. We have developed a workaround for each instance and have FAQs about them.