October 18, 1996
This week, our update focuses on the projected phase-in schedule for SEDAR filings and the electronic banking enrollment process you will need to undertake in order to use the SEDAR system.
Following is the projected phase-in schedule (subject to regulatory approval)
Notes: 1. It is requested that electronic filers file their "filer profiles" at least 30 days in advance of their phase-in date (the proposedNational Instrument called for filing 15 days in advance)
2. "Continuous Disclosure" means any of the documents listed in Appendix A under "Continuous Disclosure" for the particular category of filer and, in the case of POP issuers, the Annual Information Form filed under NPS 47.
3. The mandate and phase-in schedule for Single Jurisdiction Filers is still under review by the regulatory authorities. More information will be provided as soon as possible.
As you know, the electronic payment function of SEDAR requires that you complete arrangements with an EDI-compliant financial institution for payment of filing fees to the regulatory authorities and SEDAR service fees (where applicable). This functionality will be available on January 1, 1997 to coincide with the projected start of the SEDAR phase-in schedule.
To date, subscribers have not been asked to provide us with their EDI-capable bank account information. Instead, we have asked only for the name and branch of your principal financial institution (FI) on SEDAR Form 1. We plan to provide the subscriber company name, contact name and telephone number as well as the FI branch name to the appropriate FI so that they can provide branch personnel with the materials necessary to complete the SEDAR enrollment process
We are also providing central contacts to you for each of the participating FI's. This list appears below- we encourage you to contact your FI as soon as possible to begin the enrollment process. You may expect enrollment to take up to four weeks. As soon as this process is complete, we ask that you advise us of the account number for entry into the SEDAR system. This step must be completed no later than November 22nd to ensure that your SEDAR electronic fee payment capability will be operational on January 1, 1997.
The EDI program contacts are as follows:
Additional details of the electronic payment implementation plan will be forwarded to you early next week.
Required EDI Banking Arrangements
At the time of registration as a filing service subscriber, the subscriber must provide CDS with the following EDI banking information on SEDAR FORM 1, in order to facilitate automated processing of payment instructions:
The EDI banking information provided by the subscriber is entered in the SEDAR system by CDS and is made available to the subscriber on the "Access and Banking Authorization" screen in the SEDAR Filer Software. The subscriber is responsible for verifying that CDS has correctly entered the subscriber's EDI banking information.
The subscriber should be aware that a successful filing can not be made to the SEDAR server if the banking information is incorrect or incomplete in the SEDAR system:
The user can make changes to their banking information by resubmission of a new and properly authorized Form1 to CDS (changes may be submitted by fax).
The payment limit must be some non-zero value and can be used in several ways: