The B.C. Securities Commission has unveiled a Web-based, interactive applications filing system that will cut the paper chase for individuals and companies.

“One of our key functions as a securities regulator is to review applications from market participants looking for relief from certain regulatory requirements under securities legislation,” said BCSC Executive Director Steve Wilson. “This interactive system is transparent and will speed up the application process by allowing users to conduct research, submit and track their applications online.”

Dubbed BCSC e-services, the commission expects that the system’s main users will be securities lawyers and company officials who need an exemption under securities laws for certain business transactions.

Exemptions may be granted to allow companies or individuals to: complete corporate takeovers and re-organizations; be excused from certain filing requirements; implement employee stock purchase plans; and undertake limited trading and advising activities without being registered.

The commission is urging industry to take advantage of submitting applications for exemptions in B.C. online. With BCSC e-services, applications can be filed, assigned, and tracked immediately 24 hours a day, 7 days a week, without the delay of manual filing and data entry.

The commission typically fields hundreds of exemption applications each year, and commission staff says the new system will help cut time from the application process.

To learn more about the service and the exemption application process, industry representatives are invited to attend a one-hour workshop at the commission. The sessions are scheduled for March 12, 18, and 19, 2003 at the commission’s offices, 701 West Georgia St., 12th floor, beginning at 8:00 am. Seating is limited. If you wish to attend please RSVP Brittny Bruce at (604) 899-6648 or bbruce@bcsc.bc.ca.

The commission’s e-services function is accessible through the BCSC Web site.