The Canadian Securities Administrators is proposing amendments to the rules governing electronic reporting of insider trading.

The proposed changes to the System for Electronic Disclosure by Insiders (SEDI) are intended to streamline the insider report filing process by reducing the number of screens and enhancing user navigation, eliminating the use of the insider access key for insiders who are self filers and improving the usability of the “view insider profile” screen by enhancing its visual impact and adding optional features.

SEDI was launched on May 5, 2003. The CSA implemented SEDI out of a desire to make the filing of insider information easier and faster, as well as to make information from insider reports accessible to the public in real time and in an easily readable format. “While SEDI has fulfilled its purpose, the CSA has received numerous complaints and suggestions from direct users of the system about the quality of its user interface,” it reports.

An updated version was implemented on Oct. 6, 2007. This release addresses certain issues raised in the SEDI user opinion survey conducted in 2005 and 2006. The proposed amendments to the SEDI rules are to complement the changes made in the new version of the system.

Comments on the proposed changes are due by Feb. 5, 2008.