By autumn, the System for Electronic Document Analysis and Retrieval (SEDAR) will be mandatory for many public companies.
Described as an improvement over traditional paper filings made to Canadian security commissions, SEDAR is designed to reduce costs and increase productivity in securities disclosure.
The system allows documents to be transmited instantly to Canadian Securities Administrators (CSA), and also serves as a database.
SEDAR was developed by CSA, the Canadian Depository for Securities (CDS) and Osler, Hoskin & Harcourt.
Begining in October, domestically traded companies will be required to file documents electronically.
The system will be administered by a subsidiary of CDS, with technical support from Quebecor Merrill Canada.
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