The Canadian Investor Relations Institute (CIRI) has written to the CSA recommending that the CSA provide equal access to investors and others to information filed on SEDAR (the System for Electronic Document Analysis and Retrieval). Currently there are two levels of access: for a fee real-time access and next day access if you are not a subscriber. CIRI strongly believes that this uneven level of access is inconsistent with the intent of securities regulators to foster fair and efficient capital markets and provide all investors with equally timely, accurate information on which to base investment decisions.
Barry Critchley, of the Financial Post points out that the principle of public disclose of information has been a regulatory requirement for at least a decade in the U.S., and is a principle in Canada that should be enforced. We agree!
The CSA has not yet responded.
