DEFINITION of 'System for Electronic Document Analysis and Retrieval - SEDAR'
The system used for electronically filing most securities information with the authorities concerned with securities regulation in Canada, since Jan. 1, 1997. Filing on SEDAR, which is mandatory for most reporting issuers in Canada, has three main benefits. Firstly, it saves time and money by allowing companies to electronically file securities information, such as prospectuses and continuous disclosure documents, and make associated payments in electronic form. Secondly, it facilitates market efficiency by enabling investors to promptly access securities information found in the public domain. Finally, it speeds up communication between reporting issuers and securities regulators in Canada.
BREAKING DOWN 'System for Electronic Document Analysis and Retrieval - SEDAR'
SEDAR was established by the Canadian Securities Administrators (CSA) and is operated and administered by CDS Inc, which is the filing service contractor appointed by CSA and a subsidiary of the Canadian Depository for Securities. SEDAR is the Canadian version of EDGAR, the U.S. electronic system for filing securities information.