The System for Electronic Document Analysis and Retrieval (SEDAR+), is the web-based system that is now used to file, disclose, and search for information regarding firms in Canada’s capital markets. SEDAR+ includes extended search capabilities, access to historical data, and more efficient document retrieval processes. Therefore, ensuring that SEDAR+ profiles are accurately updated by firms is crucial for maintaining transparency and compliance with regulatory obligations.
One of the primary reasons for updating SEDAR+ profiles is to ensure compliance with National Instrument 13-103 System for Electronic Data Analysis and Retrieval+ (SEDAR+). Updates to SEDAR+ profiles must be made by issuers and investment fund managers:
- the next time the person or company transmits a document through SEDAR+ after the date on which they knew or reasonably should have known that the information contained in the profile is inaccurate; or
- 10 days after the date on which the person or company knew or reasonably should have known that the information contained in the profile is inaccurate (whichever comes first).
Moreover, keeping SEDAR+ profiles up to date ensures that regulators have the right information needed to perform effective oversight, while also avoiding issues such as incorrect fee calculations.
As you may know, SEDAR+ profiles have a significant amount of information, and all such information is required to be kept up to date. We have listed some key elements of such profiles, and the particular importance of their accuracy, below.
Investment Fund Profiles:
| Name of Issuer Profile Field | Functionality |
| Full legal investment fund name in English and/or French | Name is displayed on the reporting issuer list. |
| Financial year end | Used to calculate deadlines and late fees. |
| Category and Type of investment fund | Used to calculate deadlines and fees. |
| Contact details | Correct contact details are crucial to ensure the CSA and its members can communicate with issuers. |
| Listed on an exchange or other marketplace | Used to calculate fees. |
Company Profiles:
| Name of Issuer Profile Field | Functionality |
| Full legal name in English and/or French | Name is displayed on the reporting issuer list. |
| Financial year end | Used to calculate deadlines and late fees. |
| Contact details | Correct contact details are crucial to ensure the CSA and its members can communicate with issuers. |
| Profile details | Correct profile details are crucial to ensure the CSA and its members can communicate with issuers. |
| Listed on an exchange or other marketplace | Used to calculate fees. |
| North American Industry Classification System (NAICS) | This information is used by regulators for data analysis. |
| Exchangeable Security or Credit Support issuer | This information is used to calculate fees. |
If you would like to know if your profiles on SEDAR+ are current and up to date, please contact us, and we will be happy to assist.
February 29, 2024