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OSC Glossary

Terms

Acronym Category Description
 C-Suite  

 A widely-used slang term used to collectively refer to a corporation's most important senior executives. C-Suite gets its name because top senior executives' titles tend to start with the letter C, for chief, as in chief executive officer, chief operating officer and chief information officer. Also called "C-level executives."

(Source: Investopedia)

CAD Law  

Capital Adequacy Directive, officially directive 93/6/EEC, is on capital adequacy of investment firms and credit institutions.

(Source: Allen & Overy Briefing Papers Glossary)

Capital Markets Markets

Capital market is a market where providers (investors with money to invest) and users of capital (companies looking for money to expand) come together.

(Source: A Brief Overview of the Regulatory Structure of Securities Regulation in Ontario)

CASB Accounting

Canadian Accounting Standards Board is now the AcSB – an independent body with the authority to develop and establish accounting standards for all Canadian entities outside the public sector.

(Source: FRAS website)

CATO Accounting

Certified Accountant Training Office is a CA student work program. CA Training Offices are workplaces that participate and benefit by having access to CA’s with a high minimum GPA, the opportunity to train CA students in unique business culture, principles, and practices, as well as the chance to offer current employees or co-op students to enrol in a CA program while retaining them.

(Source: CATO website)

CATS Markets

Computer -  Assisted Trading System

(Source: A Brief Overview of the Regulatory Structure of Securities Regulation in Ontario)

CBA Professional Association

Canadian Bankers Association works on behalf of domestic banks, foreign bank subsidiaries and foreign bank branches operating in Canada. Provides governments and others with a centralized contact to all banks on matters relating to banking in Canada. Public policy advocate.

(Source: CBA website)

CBA Professional Association

Canadian Bar Association is a legal professionals’ advocacy association, offering personal and professional development and support. It seeks to promote fair justice   systems, facilitate law reform, promotes equality in the legal profession and to eliminate discrimination.

(Source: CBA website)

CBCA Law

Canada Business Corporations Act is the governing statute for nationally incorporated companies. The Purposes of the Act “are to revise and reform the law applicable to business corporations incorporated to carry on business throughout Canada, to advance the cause of uniformity of business corporation law in Canada and to provide   a means of allowing an orderly transference of certain federal companies incorporated   under various Acts of Parliament to this Act.”

(Source: Justice Law, website)

CBOE Markets 

Chicago Board Options Exchange offers equity, index and ETF options, including   proprietary products, such as S&P 500 options (SPX), a U.S. index option, and options on the CBOE Volatility Index (VIX), the world’s barometer for market volatility. Other products include equity options, security index options, LEAPS options, FLEX options, and benchmark products.

(Source: CBOE website)

CCF Markets 

The credit conversion factor followed the new capital adequacy rules for financial institutions. They are percentages designed to convert the off-balance sheet items to credit equivalent assets which are then placed in respective risk-based categories.

(Source: Sovereign BV financial consultancy website)

CCMR OSC

Cooperative Capital Markets Regulators is a Canadian “a cooperative regulator, which will share powers between borders and government”. Provincial regulators can voluntarily join. It is currently comprised of the British Columbia Securities Commission, the Ontario Securities Commission, the New Brunswick Securities Commission and the Saskatchewan Securities Commission.  

(Source: National Post, September 20, 2013)

CD Markets 

A Certificate of deposit is a debt instrument issued by a bank that usually pays interest. Institutional CDs are issued in denominations of $100 000 or more, and individual CDs start as low as $100. Maturities range from a few weeks to several years. Interest rates are set by competitive forces in the marketplace.

(Source: Barron’s Dictionary of Finance and Investment Terms)

CD Regulatory

Continuous Disclosure is an obligation of reporting issuers in Ontario to make certain information about activities and financial statuses available to the public.

(Source: OSC website)

CDCC Markets 

Canadian Derivatives Clearing Corporation is a clearing corporation for all exchange-traded options and futures in Canada.

(Source: Canadian Securities Course, 2002, p. 9-9).

CDIC Markets

Canada Deposit Insurance Corporation is a federal Crown Corporation that provides deposit insurance and contributes to the stability of Canada’s financial system. It insures eligible deposits at member and reimburses depositors for the amount of their insured deposits in the event of a member institution failure.

(Source: CDIC website)

CDN Professional Association 

Canadian Dealing Network has been defunct since October 2000. The CDN was an over-the-counter market for junior companies and start-ups. Issuers transferred to the TSX Venture Exchange and the Canadian Unlisted Board.

(Source: NASDAQ)

CDOR  

Canadian Dealer Offered Rate is the rate at which Canadian banks lend to one another based on bid prices for bankers’ acceptances. The Cdor is used as a benchmark for loans, floating rate notes,
interest rate swaps, and derivatives. See also Libor.

CDS Markets

Canadian Depository for Securities is the national level securities depository and clearing agency, providing clearing and settlement services for all equity and debt transactions. CDS also functions as project manager for SEDAR, SEDI and NRD.

(Source: CDS website)

CDS Markets

Credit default swap is designed to transfer the credit exposure of fixed income products between parties. A credit default swap is also referred to as a credit derivative contract, where the purchaser of the swap makes payments up until the maturity date of a contract.

(Source: Investopedia)

CFA Professional Association

Chartered Financial Analysts, formerly known as the AIMR, is a professional association of securities analysts, portfolio managers, strategists, consultants, educators, and other  investment specialists. It provides advocacy and educational programs for both its members and investors.

(Source: CFA website)

CFA Law

Commodity Futures Act has a purpose to “to provide protection to investors from unfair, improper or fraudulent practices; and to foster fair and efficient commodity futures   markets and confidence in those markets” (1999, c.0, s.23)

(Source: Service Ontario, e-laws)

CFAB OSC

Commodity Futures Advisory Board consults with and advises the OSC on   developments in commodity futures contracts and commodity futures options   (collectively known as contracts), the manner of trading and the influence of trading in contracts on Ontario’s economy.

(Source: Service Ontario, e-laws)

CFTC Regulatory

Commodity Futures Trading Commission is a US administrative agency that protects market participants against manipulation, abusive trade practices and fraud.

(Source: Service Ontario, e-laws)

CGA Professional Association

Certified General Accountants re professional accountants who have acquired their accounting education through and are members of the Certified General Accountants Association.

(Source: CGAA website)

CGAA Professional Association 

Certified General Accountants Association is a self-governing body with exclusive granting rights over the CGA designation. It Controls professional standards, conduct and discipline.

(Source: CGAA website)

CICA Professional Association

Canadian Institute of Chartered Accountants conducts research on current business issues and sets accounting and assurance standards for business, not-for-profit organizations and government. It issues guidance on control and governance, publishes professional literature, develops continuing education programs and represents the CA profession nationally and internationally. As of January 2013, the CMA has entered a union with CICA called the CPA.

(Source: CICA website)

CIF Law 

Coming into Force indicates a bill coming into effect. The term is interchangeable with commencement. This can happen 3 ways and usually is stipulated at the end of the Bill / Statute. Options include: Upon Royal Assent, when the Bill is proclaimed by the Governor General or the Lieutenant Governor, on a date specified within the Act / Bill.

(Source: OSC, Library: Legislative Research Training)

CIPF    Regulatory

Canadian Investor Protection Fund was established in 1969 to protect investors   against the insolvency of any firm which is a member of the CIPF’s sponsoring SROs (which include the TSX, the TSX Venture Exchange, the Bourse de Montréal and the IDA). 

(Source: CIPF website)

CLN Markets

Credit linked notes are security with an embedded credit default swap allowing the issuer to transfer a specific credit risk to credit investors.

(Source: Investopedia)

Closed System Regulatory

Closed system is the Ontario approach to the securities market. In this trading system, a prospectus and proper registration is mandatory, ensuring proper disclosure to protect public investors.

(Source: A Brief Overview of the Regulatory Structure of Securities Regulation in Ontario)

CMA Professional Association

Certified Management Accountants are a group of strategic financial management   professionals who combine accounting expertise and business acumen with   professional management skills and seeks to provide leadership in organizational decision-making. As of January 2013, the CMA has entered a union with CICA called the CPA.

(Source: CMA website)

CME Markets

Chicago Mercantile Exchange provides risk management services. It provides   benchmark futures and options products in all major asset classes.

(Source: CME website)

CMT Markets

Conseil du marché à terme, or the Futures Market Council, has jurisdiction over France’s futures markets, commodities, and financial products.

CNBV Regulatory

Comision Nacional Bancaria Y de Valores is a financial institution seeking to protect the stability of the Mexican Financial System and to facilitate efficiency and inclusive development (aka the Mexico Securities Commission).

(Source: CNBV website)

CNCOM Markets

Concentration risk capital component.

(Source: Allen & Overy Briefing Papers Glossary)

CNQ OSC

Canadian Trading Quotation System was recognized as a quotation and trade service by the OSC in February 2003. A marketplace for small issuers.

(Source: QIS Capital Corporation website)

CNSX Markets

Canadian National Stock Exchange is a new stock exchange for trading public   securities. CNSX rules, governing this exchange, were developed in consultation with the trading community and were approved by the OSC.

(Source: CNSX website)

COB Regulatory

Commission des Opérations de Bourse is a securities regulator in France. Ensures   compliance with and enforcement of securities laws. COB and OSC have established a mutual assistance relationship.

(Source: OSC, document)

Compliance and Registrant Regulation Regulatory

Compliance & Registrant Regulation is the OSC branch responsible for regulating firms and individuals who are in the business of advising or trading in securities or commodity futures, and firms that manage investment funds in Ontario.

(Source: OSC website, Branches & Offices page)

Conference Call Markets 

A conference call is an event during which investors can call in to hear a company’s management report its quarterly results as well as forward, or projected, earnings. A conference call generally begins with an uninterrupted report from management. Then the meeting is opened up for questions. While the average investor can only listen to the call, the reporting company will often answer questions from analysts. These analysts are often hand-picked by the company however. Their transcripts are available electronically via Capital IQ.
  
This type of conference call is also known as an “earnings conference call", “analyst call,” “earnings call” or “results-earnings call.”

(Source: Investopedia)

CONSOB Regulatory

Commissione Nazionale per la Societa e la Borsa is a public authority that regulates the Italian securities market for investor protection.

(Source: CONSOB website)

Corporate Finance aka CF OSC

Corporate Finance is the OSC branch responsible for regulating reporting issuers other than investment funds and for leading issuer-related policy initiatives. The OSC   establishes the regulatory framework for securities offerings in the public and exempt markets, as well as take-over bids, and we monitor compliance through ongoing reviews.

(Source: OSC website, Branches & Offices page)

CPA Professional Association

Chartered Professional Accountants is a combined body, as of January 2013, made up of the CICA and CMA. The official CPA website and mandate does not launch until January 2014.

(Source: CPA website)

CPAB Law

Canadian Public Accountability Board was incorporated in 2003 under the Canada Corporations Act. Its purpose is to provide public oversight for financial reporting through regulation and independent auditing.

(Source: CAPB website)

CQS Markets

Credit quality step.

(Source: Allen & Overy Briefing Papers Glossary)

CRA Markets

Credit Rating Agencies are companies, like Moody’s or Standard & Poor’s, that rate debt and preferred stock issues for safety of payment of principal, interest, or   dividends.

OR  Canada Revenue Agency

(Source: Investopedia)

CRD Markets

Capital Requirements Directive is comprised of the recast of CAD and the recast of BCD.

(Source: Allen & Overy Briefing Papers Glossary)

CRM Markets

Credit risk mitigation is a process by which banks use financial instruments to reduce their credit risk. They may buy protection in the form of a guarantee from a protection   seller or they may enter into a credit derivative with a protection seller. Alternatively banks may try to offload some of their credit risk by putting netting arrangements in place or taking collateral in respect of their exposure.

(Source: Morgan Stanley Intuition website)

Crowdfunding Markets

Crowdfunding is an emerging corporate financing mechanism that has come about due to a decline in IPOs under $500m. The amount required for an IPO is out of reach for small companies.

(Source: Investopedia)

CRR OSC

Compliance & Registrant Regulation is the OSC branch responsible for regulating firms and individuals who are in the business of advising or trading in securities or commodity futures, and firms that manage investment funds in Ontario.

(Source: OSC website, Branches & Offices page)

CSA Regulatory

Canadian Securities Administrators are administrators of each provincial securities commission meet regularly to discuss issues of national importance, and to coordinate the development and implementation of national policies. It is an unofficial group.

(Source: CSA website)

CSRA Regulatory

Canadian Securities Administrators are audit regulators.

(Source: Department of Finance website, Archive page)

CSTO Regulatory

Canadian Securities Transition Office was formed by the Government of Canada in 2009 with a mandate to assist in the establishment of a Canadian securities regulator. 

(Source: CSTO website)

CSI Markets 

Canadian Securities Institute is Moody’s Analytics Training & Certification Services. It is a professional education institute, recognised by IDA for licensing of investment/financial professionals.

(Source: CSI website)

CTO OSC

Cease Trade Orders are issued by the OSC against individuals and/or companies. A   CTO prohibits those individuals and/or companies from trading in specified   securities over a certain period of time. A CTO can also prohibit all trading   in the securities of a particular company. For more information on CTOs and to find individuals and companies that are the subject of a CTO, visit the Canadian Securities Administrators website.

(Source: CTO website)

CUSIP Markets

Committee on Uniform Security Identification Procedures is a standard system to identify and describe securities used throughout North America.

(Source: CUSIP website)

CVMQ Regulatory

Commission des valeurs mobilières du Québec was a tribunal that, as of February   2004, has been replaced by the Autorité des arches financiers (Quebec Securities Commission).  

(Source: CanLII website, CVMQ page)