Although SEDAR+ is available 24/7, for purposes of calculating the review period by a securities regulatory authority, it will generally be considered to begin on or immediately after the date of the filing of the document in SEDAR+, However, if the filing is not completed on a business day by 5:00 p.m. local time in the city where the securities regulatory authority is located, the date of the filing will be considered to be the next business day. 

For example, if Ontario is the principal regulator on an application, OSC’s internal review guideline allows a review period of 10 working days from receipt of a complete and adequate application to issue a first comment letter. An application that is received after 5:00p.m. ET on May 1, 2023, will be recorded as received in Ontario on May 2, 2023. In this case, the 1st day of the review period is May 3, 2023 and the first comment letter will be due on May 16.

For information on the timeframe that will be used for late fee calculation purposes see  If SEDAR+ will be available 24/7, what timeframe will be used for fee calculation purposes?