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 to enter their filings; SEDAR+ will be securely accessible from a browser.
- Offer enhanced cybersecurity and privacy management.
- Consolidate systems and standardize inputs to provide regulators and the public with better quality data.
- Automate the process for calculating most filing fees and simplify fee payment.
- Increase the scope of filings and give registered organizations the ability to manage their accounts and users.
Over the coming years, the CSA will migrate the legacy systems to SEDAR+ in three phases. In June 2023, SEDAR, Disciplined List and Cease Trade Order databases, exempt market systems, reporting issuers lists and local filing systems will migrate to the new SEDAR+ platform.
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