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OSC Glossary

Terms

Acronym Category Description
MAC OSC (HR)

Move, Add, Change Form is used for OSC HR purposes.

Macaroni Defense Markets

Macaroni Defense is an approach taken by a company that does not want to be taken over. The company issues a large number of bonds with the condition they must be   redeemed at a high price if the company is taken over.

(Source: Investopedia)

MAO OSC 

Modern, Accountable and Efficient Organization – the OSC goal to be a modern and efficient organization that values its people, uses resources effectively and is accountable for fulfilling its mandate and achieving its goals.

(Source: OSC Strategic Plan)

Mauve Jacket OSC

Mauve Jacket is a Continuous Disclosure Review. Its purpose is the collection of working materials (i.e.  emails) that supports a CD review. There are full reviews, issuer oriented reviews, and sweep reviews. Actions include a “Cease Trade Order” resulting from non-compliance with CD filing obligations of the reporting issuer. Another action is a “CD review of filing”, choosing a company to review their CD as every company has requirements for CDs except for those who have exemptions. Order types include a Temporary Cease Trade Order, Permanent Cease Trade, or the participant can file an application requesting removal of a cease trade order.

Market Intermediary Market 

Market Intermediaries are third parties who facilitate a market transaction between two other parties.

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

Market Regulation OSC 

Market Regulation, as in the OSC branch, are responsible for regulating market infrastructure entities (including exchanges, alternative trading systems, self-regulatory organizations and clearing agencies) in Ontario and for developing policy relating to market structure and clearing and settlement.

(Source: OSC website, Branches & Offices page)

MATIF Markets

Marché à terme international de France is the principal futures exchange in France.

(Source: Oxford Reference)

MBS Markets

Mortgage-backed security or a Mortgage-Backed Certificate are issued by the Federal Home Loan Mortgage Corporation, and the Federal National Mortgage Association. Others are guaranteed by the Government National Mortgage Association. Investors receive payments out of interest and principal on the underlying mortgages.

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

MCR Markets

Minimum capital requirement.

(Source: Allen & Overy Briefing Papers Glossary)

MD&A Regulatory

Management Discussion and Analysis is part of the Annual Report and provides an overview of the previous year of operations and how the company fared in that time period. Management will usually also touch on the upcoming year, outlining future goals and approaches to new projects. The MD&A is an important section of an annual report, especially for those analyzing the fundamentals, which include management and management style. Although this section contains useful information, investors should keep in mind that the section is unaudited. It is prepared in accordance with Ontario   securities law.

(Source: Investopedia, 44-1-1F2 and Ontario local rule 51-501 and the annual report)

 MDB Markets 

Multilateral development bank.

(Source: Allen & Overy Briefing Papers Glossary)

MFDA Professional Association

Mutual Fund Dealers’ Association of Canada is a Canadian self-regulatory organization of mutual fund dealers, which monitors the practices of mutual fund dealers and sales people.

(Source: MFDA, website)

MFDAIPC Regulatory

Mutual Fund Dealers Association Investor Protection Corporation provides protection to customers of MFDA members in the event of insolvency.

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

 MIC Market 

Market Identifier Code A four-character code used to identify stock markets and other trading exchanges within global trading and referencing computer systems. The code is used to process and clear trades, and is being pushed toward global acceptance as the securities industries move toward straight-through-processing (STP). The London Stock Exchange uses MICs as part of its SEDOL security-identifying systems, which is an alternative to the U.S.-based CUSIP identifying system.

(Source: Investopedia)

MiFID Law 

Markets in Financial Instruments Directive of 21 April 2004 on markets in financial instruments, amending the UCITS Directive and CAD and BCD of the European Parliament and of the Council, and repealing the ISD (2004/39/EC).

(Source: Allen & Overy Briefing Papers Glossary)

MISTs Markets

Malaysia, Indonesia, South Korea, and Turkey are a group of emerging markets.

(Source: Globe & Mail)

MITS OSC

Management Information Tracking System is an integrated workflow system for tracking filings (eg., prospectus, applications for exemptive relief, pre-filings, confidential material change reports, etc.) received by the commission.

MJDS  Law

Multijurisdictional Disclosure System is a joint initiative of the CSA and the SEC to reduce duplication in registration of cross-border disclosure.

(Source: Investopedia and NI 71-101)

MLM Law 

Multi-level marketing is legal and involves being recruited in order to sell a product or service that actually has some inherent value. As a recruit, you can make a profit from the sales of the product or service, so you don't necessarily have to recruit more salespeople below you. And while you may be encouraged to recruit other salespeople whose sales would give you more profit, you can stick to just selling the product directly to the consumer if you choose.

(Source: Investopedia)

MOA Law 

Memorandum of Agreement is a “draft agreement to set mutual responsibilities and scope of association.” It is related to the Memorandum of Understanding.

(Source: Black’s Legal Dictionary, website)

MOF Markets

Ministry of Finance supports the provincial economic and fiscal investment climate.

(Source: MOF, website)

Moody's Markets

Moody’s Corporation provides services such as credit ratings, research, and tools and analysis. It is the parent company of Moody’s Investor Service (credit ratings and research) and Moody’s Analytics (software, research for credit and economic analysis).

(Source: Moody’s Corporation website)

MOU Markets 

Memorandum of Understanding sets out the accountability relationship between “two or more parties expressing mutual accord on an issue as stated on this type of document”.

(Source: Black’s Legal Dictionary, website)

MRRS Markets

Mutual Reliance Review System is an undertaking of the CSA to increase the   efficiency of filing in multiple Canadian jurisdictions. Under the MOU, each regulator agrees to rely on the expertise and analysis of its partners, allowing a registrant to file documents with a single regulatory point of contact. 

(Source: OSC website, Securities Laws & Instruments page)

MSC  Regulatory

Manitoba Securities Commission is the provinces’ equivalent of the OSC.

(Source: MSC, website)

Multilateral Instrument or Policy  Law

Multilateral Instrument or Policy is an instrument or policy that has not been adopted by one or more CSA jurisdictions.

(Source: CSA Notice 11-312 - National Numbering System)