Is a new securities regulatory system coming for Canada? It would appear that Ottawa’s move to create a national securities regulator is one step closer to fruition.

To date, B.C., Ontario, Saskatchewan, New Brunswick and PEI have signed a Memorandum of Agreement to set out the terms and conditions of the new Regulatory System to be called the Cooperative Capital Markets Regulatory System.

The Government of Canada related documents are open for your review and comment until November 7, 2014.

Is Securities Commission Doing Housekeeping?

Possibly in light of this, as SEDI filing agents, we have seen evidence of some “housekeeping” taking place by the commissions namely the Compliance Report Card and a Private Placement Review.

What’s Being Checked?

In the past week we have seen the commissions cross checking Issuer regulatory filings (stock options, placements etc.) with insiders SEDI filings for discrepancies. We have seen them checking the status of SEDI and SEDAR profiles to ensure accurate information is available to the public.

Though this information should be accurate to instill investor confidence, we have not seen such an in depth “audit” of information in the 25+ years we have been in business.

Are Your SEDI Reports Accurate?

Do you, as an Insider, know if your reports are accurate?

Try this: Ask whoever files your Insider Reports to give you a summary of what your reports say you are holding (shares/warrants/options, etc), both as to number of shares held and beneficial ownership.

Does this match to what you know you have both inside and outside of your brokerage accounts?

Contact the professionals at Securities Services and Trader ii Securities Accounting if you need help maintaining accurate numbers. Or, if you want to know more about how we look after your trading activity and the reports we are able to provide to you.


This information is provided as an information service only and is not intended to substitute for competent professional advice. No action should be initiated without consulting a professional advisor.