Transitioning to SEDAR+
As IR professionals, 5Q is dedicated to providing our partner clients with up-to-date information on important industry developments. Today, we want to focus on the upcoming launch of SEDAR+, the reimagined document filing platform for public companies and mutual funds across Canada.
SEDAR+ is a new and modernized version of the System for Electronic Document Analysis and Retrieval (SEDAR), which has been in use for the past 25 years. The Canadian Securities Administrators (CSA) are leading the transition from the old legacy platform to the new system, which is set to launch on June 13, 20231. This update will offer several benefits for Canadian securities markets stakeholders, including saving time, reducing costs, simplifying payments, and enhancing operating hours.
It is important for public companies to prepare for the transition to SEDAR+ to ensure they can file their key company documents and disclosures on time. The CSA has provided an exclusive period from January 3 to April 14, 2023, to prepare for the transition2. However, many companies have not completed the early onboarding process to be able to file on Day 1 when the new system goes live. This could result in delays to critical company filings.
After April 14, filing organizations that missed the pre-launch onboarding opportunity will need to register for an account in the new SEDAR+ system once it is live. However, this post-launch process does not grant immediate access to the platform. Instead, it involves additional steps and a third-party review process. The standard turnaround times for processing SEDAR+ filings following the platform’s launch will be determined in advance but have yet to be announced3.
Filing organizations and users will need to adapt to the new system’s features and updated filing processes, a task that may seem daunting to those who’ve become accustomed to the old system. The CSA are taking a user-centric transition approach by offering training sessions, on-demand instructional videos, and other transition resources through the SEDAR+ Learning Centre. Virtual training sessions will also be available in April, May, and June, led by SEDAR+ subject matter experts who will provide guidance and answer questions. Additionally, the online Help Centre will provide detailed support information on filing and other important subjects once the new system is live4.
5Q highly recommends that our client companies prepare for the transition to SEDAR+ in advance of its launch on June 13, 2023. The new platform promises several benefits for filing companies and stakeholders, including increased efficiency, transparency, and an improved user experience. Completing the necessary steps to transition to and prepare for SEDAR+ will ensure our clients can file their mandatory documents in a timely manner and continue to operate seamlessly within Canada’s capital markets.
1 https://www.linkedin.com/pulse/sedar-coming-ultimate-guide-plus-how-onboard-melissa-strle-mba?trk=public_post_feed-article-content
2 https://www.linkedin.com/pulse/sedar-coming-ultimate-guide-plus-how-onboard-melissa-strle-mba?trk=public_post_feed-article-content
3 https://www.securities-administrators.ca/about-sedar/sedar-frequently-asked-questions/
4 https://www.securities-administrators.ca/about-sedar/sedar-frequently-asked-questions/
