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OSC Glossary

Terms

Acronym Category Description
NASAA Regulatory  

North American Securities Administrators Association is a body with a voluntary membership consisting of state, provincial, and territorial securities administrators in the US, Puerto Rico, Canada, and Mexico. In the United States, NASAA is responsible for efficient capital formation and investor protection.

(Source: NASAA, website)

NASD Professional Association

National Association of Securities Dealers is the US equivalent of the IDA.  NASD registers member firms, writes rules to govern behavior, examines them for compliance and disciplines those that fail to comply. They provide education to industry professionals and investors, and support member firms in their self-compliance activities. Monitor all trading on the Nasdaq Stock Market and other selected markets worldwide.

(Source: NASD website)

 NASDAQ Markets

National Association of Securities Dealers Automated Quotations System

(Source: NASDAQ)

 NAV Markets

Net Asset Value of an exchange-traded fund (ETF) or a mutual fund over a given period of time. It is used to measure relative performance, rather than the total return, because it ignores market influences that cause funds to be traded at a premium or discount.

(Source: Investopedia)

 NBSC Regulatory

New Brunswick Securities Commission is the province’s OSC equivalent.

(Source: NBSC website)

 NCIB Markets 

Normal Course Issuer Bid is a Canadian term for a company repurchasing its own stock from the public in order to cancel it. In a normal-course issuer bid (NCIB), a company is allowed to repurchase between 5 and 10% of its shares depending on how the transaction is conducted. The issuer repurchases the shares gradually over a period of time, such as one year. This repurchasing strategy allows the company to buy only when its stock is favorably priced.

(Source: Investopedia)

 NI Law

National Instrument is the legislative document, instrument or policy, that is drafted and promulgated by the CSA and is adopted in all CSA jurisdictions. NI’s are intended to further the   harmonization of securities regulation. National Instruments are used interchangeably with “Rules”.

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

 NIF Markets 

Note issuance facilities are arrangements whereby short-term borrowers in the Eurocurrency markets can issue Euronotes (maturity of less than one year) in their own name.

(Source: Morgan Stanley Intuition website)

 Nikkei 225 Markets 

Japan Stock Market.

(Source: Trading Economics)

 NP/NPS  Regulatory

National Policy or National Policy Statements are non-legislative principles or standards issued by the CSA and adopted by individual commissions. The OSC can also issue local policies, which apply only in Ontario.

 NPR  Regulatory

Non Principal Regulators or Not Principal Regulator.

(Source: OSC, Library: Training Session for Summer Law Students)

 NRD Markets 

National Registration Database is a CSA project which will permit registrants to add or change information required to maintain registration status by electronic means.

(Source: NRD, website)

 NRIFs  Markets

Non-Redeemable Investment Funds are not subject to NI 81-102, may offer an annual redemption at NAV or monthly redemptions at market price, and are typically exchange-traded; usually trade at discount to NAV and are not in continuous distribution (closed-end funds).  

(Source: Overview of Investment Funds Branch)

 NRS  Markets

National Registration Search contains the names of CSA registrants (individuals and firms) with the exception of those registered exclusively with the OSC.

(Source: CSA, website)

 NRS  Markets

National Registration System was introduced in 2005 to create a mutual reliance system for registration of dealers and advisors. It reduces duplication in analysis of applications for registration made in multiple jurisdictions.

 NSSC  Regulatory

Nova Scotia Securities Commission is the province’s OSC equivalent.

(Source: NSSC website)

 Nunavut Department Justice Regulatory 

Nunavut Department of Justice’s Office of the Superintendent of Securities is the territory’s OSC equivalent, aka the Nunavut Securities Commission.

(Source: Nunavut Justice Department website, Superintendent of Securities page)

 NWT Justice  Regulatory

North West Territories Justice Department is responsible for securities regulation in the territory. The department’s Office of the Superintendent of Securities is the province’s OSC equivalent, aka the North West Territories Securities Commission.

(Source: NWT Justice website)

 NYMEX  Markets

New York Mercantile Exchange Market specializes in trading futures and options in energy and metals. NYMEX functions under the CME Group.

(Source: CME Group, website)