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Understanding the Canadian System for Electronic Disclosure by Insiders (SEDI)
What is SEDI?
The System for Electronic Disclosure by Insiders (SEDI) is an essential platform in Canada that enables directors, officers, and other insiders of publicly traded companies to report their trades and ownership of securities. According to Canadian securities laws, insiders are legally required to file reports of their trading activities within five calendar days of a transaction. This timely reporting is crucial for promoting transparency and providing investors with accurate information about insider trading activities.
How to file?
When it comes to SEDI filings, there are two ways to ensure compliance with Canadian securities laws.
Do it yourself. Directors, officers, and other insiders of publicly traded companies can choose to handle these filings personally or internally.
Outsource to specialized firms or pricey legal professionals who have expertise in securities regulations and can ensure accurate and timely submissions.