BC proposes electronic filing of reports of exempt distribution
On December 10, the British Columbia Securities Commission published proposed BC Instrument 13-502 Electronic filing of reports of exempt distribution. The BCSC receives about 7,000 exempt distribution reports each year, over 5,000 of which are in paper format, and the proposed Instrument would require that issuers file the reports and pay related fees electronically. The BCSC hopes that electronic filing will improve compliance and enforcement capabilities and allow for a reduction of the time it takes to post the reports on its website.
