As mentioned above, the Phase 1 rollout of the new SEDAR+ filing system will be launching on June 13, 2023. This phase of the rollout requires numerous filings to be submitted on SEDAR+ after June 13, including by foreign issuers who are required to file a Form 45-106F1 (Report of Exempt Distribution). As of this date, foreign issuers/funds, including those who currently file their F1s through the portals offered by the Ontario Securities Commission and the British Columbia Securities Commission, will be required to make their filings through SEDAR+. These forms will be available for viewing by the public.
The Canadian Securities Administrators (CSA) have made it clear that any issuers who have filing obligations must be onboarded or registered with the SEDAR+ platform in the future. This requires, among other things, the filing of an Electronic Filer Agreement (EFA). For foreign issuers/funds who rely on a related entity or other filing agent to make their filings on their behalf, this will also require the submission of a Filing Agent Authorization Form (FAAF). The CSA has strongly suggested that onboarding occur prior to April 14, 2023.
We expect that additional guidance will be forthcoming from the CSA to assist foreign issuers with respect to onboarding to the SEDAR+ platform.
March 31, 2023