SEDAR filings will be publicly available within 15 minutes
SEDAR filing pages will show the date and time of filing
The Canadian Securities Administrators have announced that,
effective April 6, 2013, public filings and updates to reporting
issuer profiles made on the System for Electronic Document Analysis
and Retrieval (SEDAR) will now be accessible on the related public
website at www.sedar.com within 15 minutes of submission,
instead of the following day.
When it was originally established, Canada's electronic
system for filing continuous disclosure documents for reporting
issuers updated its associated public website only on a daily
basis. Registered users of the SEDAR system, which included some
databases, could have immediate access to "public"
electronic filings, but documents made public in the SEDAR
electronic system would not appear on the free public website until
the following day.
As of April 6, 2013, replication of publicly available filings
on SEDAR will occur every 15 minutes during SEDAR business hours (7
a.m. until 11 p.m. Eastern Standard Time). As a result, documents
made public on SEDAR will become accessible on www.sedar.com
within 15 minutes of the original submission.
The same will apply to updates to reporting issuer profiles.
A further change will be that on www.sedar.com, the New Filings page and the
Public Company and Investment Funds Filings pages will indicate the
time of filing for documents appearing on those pages.
Issuers and others that make filings on SEDAR should be aware of
these disclosure timing changes. There will no longer be a
significant delay between filing a document on SEDAR and having it
appear publicly on www.sedar.com. Filing a document on SEDAR does
not satisfy general disclosure by itself, so where that is required
(e.g., announcing material changes), a news release should be
issued before the related document is filed on SEDAR.
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