SEDI Checklist

The following is a list of helpful hints which users should consider before submitting an insider report for filing on SEDI. For more information of SEDI filing requirements, please give us a call.

First Time Filers:

Insider Profile Creation

If you have only recently become a shareholding insider, or are a shareholding insider who has not reported a transaction on SEDI before, you will need to create a SEDI Insider Profile. This is different than a User Account, which is required to access the SEDI system. To create an Insider Profile, we will need the following data from you:

  • Your contact information (ie: full name, address, phone number, e-mail address)
  • Your relationship(s) to the reporting issuer (ie: Director, Senior Officer, 10% Holder)
  • A confidential question and answer to be used by SEDI operators in case you lose your password.

Issuer Profile Supplement Creation

If your company has only recently gone public, you will need to create an Issuer Profile Supplement. The Issuer Profile Supplement indicates which types of securities a company has issued and allows its insiders to report their transactions. Failure to create a Profile Supplement correctly may prohibit insiders from reporting their data to the securities commission. To create an Issuer Profile Supplement, we will need the following data:

  • Your SEDAR number.
  • Your company contact information (ie: company name, name of a contact, address, phone number, e-mail address)
  • The types of securities which the company issues (ie: common shares, options, warrants, etc.)

Opening Balance Report

Once you have created an insider profile, you will need to file a SEDI opening balance report. To file such a report, we will need the following data from you:

  • The date your last insider report was filed OR the date on which you became an insider.
  • Your current balance(s) of securities (before any unreported transactions).

Once these steps have been completed, we can file any transactions which you have not reported.

Filing Transactions:

Assumed Data

There are numerous options on SEDI which allow filers to explicitly specify the details of their transactions. Many of these details are often ignored by clients for simplicity's sake. When an insider does not specify certain data, certain default assumptions are made. If the client does not furnish us with complete data, we may not file correctly on their behalf. Here are some examples of assumed data:

  • Canadian Currency: Most transactions are conducted in Canadian dollars. Clients must inform us if American dollars or Euros are used.
  • Direct Ownership: If the client does not own the securities directly, the client must furnish us with the details of the company or individual which holds the securities on their behalf.
  • Changes in Insider Profile: Clients must notify us if their contact information or their relationship(s) to their issuer(s) have changed since their last filing.
  • Derivatives Ratio: Most derivative securities (such as options) represent one derivative for one share. The client must inform us if this is not the case.

Simple Reports

Most insider reports are trades of common shares. These reports are fairly easy to carry out. Still, there are some things the client should remember before submitting transactions to us for filing:

  • Specify the Nature of Transaction: Clients often neglect to inform us if their transaction is public versus private, or if it is carried out under a prospectus. These distinctions are necessary to execute a proper filing. Please see the list of transaction types at the end of this document for details.
  • Correct Date: It is important to the Securities Commissions that you specify the precise date on which the transaction(s) took place.

Derivative Reports

Derivatives are securities whose values are determined from the values and characteristics of another security, the underlying security. Types of derivative securities include options, warrants, and futures. To correctly file derivative transactions, we require the following additional data:

  • The nature of transaction, which is necessary to execute a proper filing. (Please see the list of transaction types at the end of this document for details)
  • The underlying security type (usually common shares)
  • The unit and exercise prices, where applicable.
  • The date of expiry or maturity, where applicable.

Additional Information:

Amending Transactions

In case of error, any transaction filed on SEDI can be edited or deleted. However, the original data remains visible to the public on the SEDI website next to the amended data. For purposes of clarity, it is best to file correctly the first time.

Legal Counsel

While Newsfile Corp. can provide you with basic information and suggestions for filing your documents, we cannot and will not give advice that we are not qualified to give. For specific answers to questions about securities laws and reporting requirements, you should direct your queries to your company's securities lawyer, or to the Canadian Securities Commissions. A filing agent is not qualified to give you legal counsel.

Transaction Codes

Here is a list of transaction codes for SEDI.

Nature of transaction   
Acquisition or disposition in the public market  10 
Acquisition or disposition carried out privately  11 
Acquisition or disposition under a prospectus  15 
Acquisition or disposition under a prospectus exemption  16 
Acquisition or disposition pusuant to a take-over bid, merger or acquisition  22 
Acquisition or disposition under a purchase/ownership plan  30 
Stock dividend  35 
Conversion or exchange  36 
Stock split or consolidation  37 
Redemption/retraction/cancellation/repurchase  38 
Short sale  40 
Compensation for property  45 
Compensation for services  46 
Acquisition or disposition by gift  47 
Acquisition by inheritance or disposition by bequest  48 
Issuer Derivatives   
Grant of options  50 
Exercise of options  51 
Expiration of options  52 
Grant of warrants  53 
Exercise of warrants  54 
Expiration of warrants  55 
Grant of rights  56 
Exercise of rights  57 
Expiration of rights  58 
Exercise for cash  59 
Third Party Derivatives   
Acquisition or disposition (writing) of third party derivative  70 
Exercise of third party derivative  71 
Other settlement of third party derivative  72 
Expiration of third party derivative  73 
Change in nature of ownership  90 
Other  97 
Correction of information  99