Canada’s securities regulators are rebooting their various national databases and replacing them with a single, integrated system. The Canadian Securities Administrators (CSA) has entered an agreement with CGI Information Systems and Management Consultants Inc. (CGI) to renew the CSA national systems.
Under a contract that starts on June 1, CGI will assume responsibility for preparing, configuring, testing, deploying, and then running and maintaining a single integrated system to replace SEDAR, SEDI, NRD, the cease-trade order database, and the national registration search and discipline list.
The new system, which is expected to be delivered in stages throughout 2018 and 2019, will “deliver secure transactions and ease of use as well as respond to future regulatory changes and requirements,” the CSA says in statement.
“We are looking forward to the deployment of a system that will be designed to better meet the current and future needs of our many stakeholder groups, internally and externally,” adds Louis Morisset, chairman of the CSA and CEO of the Autorité des marchés financiers (AMF).
A CSA/CGI transition team will work with the users of the existing systems to help implement the new systems, the CSA says.