The Canadian Securities Administrators are dropping the conditional filing function from its insider trading reporting system.

The CSA announced that it will remove the conditional filing function from the SEDI for users who have not completed the registration process. The changes mean that users cannot access the system until they register. The system changes will be effective on August 20.

“Since SEDI became operational, members of the CSA have noted repeated instances where individuals who made conditional filings did not subsequently complete the registration process,” it explains. “Their insider filings remain conditional and the insider is in default of their insider reporting obligations under applicable securities legislation.” To address the issue, it’s simply removing the conditional filing function from the SEDI software.

http://www.gov.ns.ca/nssc/docs/csanoticeni55-102cpamendjuly222005.pdf