CSA Staff Notice 13-321
Update on new service provider for the operation of the
CSA National Systems
and
implementation of
Related Consequential Amendments to CSA National Systems Rules
November 21, 2013
This notice provides an update on the transition of the operation of SEDAR, SEDI and NRD (the
CSA National Systems) from CDS INC. to CGI Information Systems and Management
Consultants Inc. (CGI) and the implementation of related amendments to:
•
National Instrument 13-101 System for Electronic Document Analysis and Retrieval
(SEDAR) (NI 13-101),
•
National Instrument 31-102 National Registration Database (NI 31-102), and
•
National Instrument 55-102 System for Electronic Disclosure by Insiders (SEDI) (NI 55-
102),
(the Consequential Amendments).
On October 8, 2013, the Canadian Securities Administrators (CSA) announced that the
implementation date of the change-over for hosting, operating and maintaining the CSA National
Systems to CGI was delayed to December 2, 2013. To ensure a smooth transition for all market
participants, the CSA is further deferring implementing this change. The CSA will publish a
further notice to advise market participants of the new change-over date.
Until the change-over takes place, the CSA will delay implementing the Consequential
Amendments. CSA members, other than the Ontario Securities Commission (OSC), have either
amended the Consequential Amendments or intend to issue blanket orders to delay the effective
date of the Consequential Amendments.
While the OSC cannot delay the effective date of the amendments, OSC staff request that, until
further notice is given, Ontario market participants continue to treat CDS INC. as the SEDAR
filing service contractor under NI 13-101, the SEDI operator under NI 55-102 and the NRD
administrator under NI 31-102 and OSC Rule 31-509 National Registration Database
(Commodity Futures Act), as if the Consequential Amendments were not in force.
The system fees that are described in Multilateral Instrument 13-102 System Fees for SEDAR
and NRD were implemented on October 12, 2013 as planned.
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Questions
Please refer your questions to any of the following:
Autorité des marchés financiers
Mathieu Laberge
Legal Counsel
Legal Affairs
514-395-0337 ext.2537
1-877-525-0337 ext. 2537
mathieu.laberge@lautorite.qc.ca
Alberta Securities Commission
Samir Sabharwal
Associate General Counsel
403-297-7389
samir.sabharwal@asc.ca
British Columbia Securities Commission
David M. Thompson
General Counsel
604-899-6537
dthompson@bcsc.bc.ca
Manitoba Securities Commission
Chris Besko
Legal Counsel – Deputy Director
204-945-2561
Chris.Besko@gov.mb.ca
Ontario Securities Commission
Robert Galea
Legal Counsel
General Counsel’s Office
416-593-2321
rgalea@osc.gov.on.ca
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THE SECURITIES ACT
)
Order No. 6848
)
Section 20(1)
)
November 21, 2013
Transitional Relief from Complying with Consequential Amendments to
NI 13-101, NI 31-102 and NI 55-102
Interpretation
Unless otherwise defined in this decision or the context otherwise requires, terms
used in this decision that are defined in National Instrument 13-101 System for
Electronic Document Analysis and Retrieval (SEDAR) (“NI 13-101”), National
Instrument 31-102 National Registration Database (“NI 31-102”), National Instrument
55-102 System for Electronic Disclosure by Insiders (SEDI) (“NI 55-102”) or National
Instrument 14-101 Definitions have the same meaning.
WHEREAS:
(A)
The operation of SEDAR, SEDI and NRD are being transferred from
CDS Inc. to CGI Information Systems and Management Consultants Inc (the
“Transition”).
(B)
In connection with the Transition, new regulations for system user fees
to be charged in connection with the use of SEDAR, SEDI and NRD, have
been promulgated under The Securities Act, R.S.M. 1988, c. S50 (the “Act”)
and come into effect October 12, 2013.
(C)
In order to effect the Transition, the Commission published as rules
MSC Rule No. 2013-28 Amendments to National Instrument 13-101 System
for Electronic Document Analysis and Retrieval (SEDAR), MSC Rule No.
2013-29 Amendments to National Instrument 31-102 National Registration
Database and MSC Rule 2013-30 Amendments to National Instrument 55-
102 System for Electronic Disclosure by Insiders (SEDI) (together, the
“Consequential Amendments”);
(D)
The Consequential Amendments came into effect October 12, 2013,
which was the anticipated date of the Transition.
(E)
It is currently unknown when the Transition will occur.
(F)
Until the Transition occurs, CDS Inc. will continue the operation of
SEDAR, SEDI and NRD.
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(G)
Compliance with the changes implemented by the Consequential
Amendments after they come into effect on October 12, 2013 would prevent
CDS Inc. from continuing the operation of SEDAR, SEDI and NRD until the
Transition can be completed.
(H)
The Commission is of the opinion that it is in the public interest to
make this order.
IT IS ORDERED:
1.
THAT, pursuant to s. 20(1) of the Act, a person or company is exempt
from complying with the Consequential Amendments, provided the person or
company complies with the equivalent provisions in NI 13-101, NI 31-102 or NI 55-
102, as applicable, as in effect on October 11, 2013.
BY ORDER OF THE COMMISSION
"Chris Besko"
Deputy Director
You are being directed to the most recent version of the statute which may not be the version considered at the time of the judgment.