Participating members of the Canadian Securities Administrators (CSA) are issuing exemptions from certain filing requirements (the blanket orders) due to delays in the implementation of SEDAR+.
The CSA now expects the launch date to be July 25, 2023, with a contingency date in September.
In the meantime, due to the delay, market participants will continue to utilize SEDAR for their filings and other systems for their local filings, while noting:
- Each CSA member is issuing a substantially similar blanket order that will generally allow market participants to file on SEDAR or through other means until the beginning of the new cutover period, when neither SEDAR nor SEDAR+ will be available for filing.
- The blanket orders will revoke the exemptions that were issued in connection with the originally planned June 2023 cutover, and CSA members will issue new blanket orders soon to address the new cutover period.
- The new fee model, which reduces overall system fee costs by seven per cent, will still come into effect, as planned, on June 9, 2023, and will apply to all filings on SEDAR and the National Registration Database (NRD) until the beginning of the cutover period, as well as filings on SEDAR+ and the NRD after the launch date.
- Filers will be able to pay system fees on SEDAR instead of SEDAR+. Details on how to apply the new systems fee model in SEDAR until the start of the cutover period can be found on the SEDAR+ Launch page on the CSA website.
For more information, please call Barbara Hendrickson at BAX Securities Law (647) 403-4606.
This publication is not intended to constitute legal advice. No one should act on it or refrain from acting on it without consulting with a lawyer. BAX does not warrant or guarantee the accuracy or currency or completeness of the publication. No part of this publication may be reproduced without the prior written permission of BAX Securities Law.
