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OSC Glossary

Terms

Acronym Category Description

Banking Book

Markets

Banking book is exposure arising through the issuing of credit to individuals, corporate entities, other non-corporate bodies, governments countries, which are not in the trading book (aka a non-trading book).

(Source: Allen & Overy Briefing Papers Glossary)

Basel I

Law

Basel I is the original Basle Accord which was agreed in 1988 by the Basel Committee on Banking Supervision.

(Source: Allen & Overy Briefing Papers Glossary)

Basel II

Law

Basel II is a 2004 revision of the framework established in the original Basle Accord.

(Source: Allen & Overy Briefing Papers Glossary)

Basic Indicator Approach Law

Basic indicator approach is a measure of operational risk.

(Source: Allen & Overy Briefing Papers Glossary)

Bay Street Law

Bay Street is a major street in downtown Toronto. It is the centre of Toronto’s financial district and is often used by nickname to refer to Canada’s financial industry since succeeding Montreal's St. James Street in that role in the 1970s. The street was originally known as Bear Street because of frequent bear sightings in the early history of Toronto.

Vancouver’s Howe St. was where a number of financial scandals occurred in the 90s.

 Blue Sky Law

Individual states adopted legislation that regulated the sale of securities in the decades prior to enactment of the federal securities laws. The term “blue sky” suggests the type of fraudulent activity targeted by state securities laws; in Hall v. Geiger-Jones Co., U.S. Supreme Court Justice McKenna used the phrase to characterize “speculative schemes which have no more basis than so many feet of ‘blue sky’ .” Blue sky laws developed in the frenzied years leading up to the Great Depression, in response to fact that more and more ordinary investors were losing money in highly speculative or fraudulent schemes promising high investment returns, such as oil fields and exotic investments in foreign countries.

(Source: LII)

BOC  Regulatory

Bank of Canada is the country’s central bank. It is responsible for monetary policy, currency, the financial system, and funds management. Useful website for Exchange Rates.

(Source: Bank of Canada website)

BCBS Regulatory

Basel Committee on Banking Supervision, established by G10 Central Banks, provides a forum for co-operation among member countries on banking supervisory matters. It formulates broad supervisory standards and guidelines and recommends statements of best practice in banking.

(Source: BCBS website)
BCD Law

Banking Consolidation Directive, officially Directive 2000/12/EC, relates to the taking up and pursuit of business credit institutions.

(Source: Bank of Canada website)
BCSC Regulatory

British Columbia Securities Commission is the province’s OSC equivalent.

(Source: BCSC website)
BCP OSC

Business Continuity Plan – OSC’s plan in case of an emergency or
evacuation.

(Source: OSC BCP website)

Bill 198 Law

Bill 198 was passed by the Ontario Legislature in 2002 (S.O. 2002, c. 22):

• for the first time in Canada, statutory civil liability for issuers, directors, officers and control persons in respect of secondary market disclosure

• increase penalties for non-compliance with the Securities Act

• create new offences for securities fraud and making untrue or misleading statements affecting securities

• expand the powers of the Ontario Securities Commission (the “OSC”), and

• extend requirements of the Securities Act regarding material changes to mutual funds and non-redeemable investment funds.

The amendments formed part of an omnibus budget measures bill (Bill 198)

http://www.ontla.on.ca/documents/Bills/37_Parliament/Session3/b198.pdf
BIPRU Markets

Prudential sourcebook for Banks, Building Societies and Investment Firms is a module of the UK FSA handbook.

(Source: Allen & Overy Briefing Papers Glossary)
BIS Regulatory

The Bank for International Settlements seeks to serve central banks in pursuit of monetary and financial stability, to foster international cooperation in those areas and to act as a bank for central banks.

(Source: BIS website)
Blue Jacket OSC Blue Jacket is a prospectus that has been filed with the OSC
(all types of prospectus).
Bought Deal Markets

A bought deal is a new issue of stocks or bonds bought from the issuer by an investment dealer… for resale to its clients, usually by way of a private placement or short form prospectus.

(Source: Canadian Securities Course, Glossary & Investopedia).
BRICs Markets

Brazil, Russia, India and China are considered emerging markets due to rapid business, social, and economic growth. South Africa has been considered by some commentators as the final “s” in the acronym.

(Source: The Economist Intelligence Unit & Investopedia
BRU Markets

A Boiler Room is a makeshift office that scam artists work out of with multiple telephone lines.

The Boiler Room Unit in the context of the OSC was a former unit in the Enforcement Branch for six years that worked with law enforcement agencies and other regulators to prevent scams and illegal distributions (from 2007 - 2012).

(Source: OSC website

Business Day Markets

A measurement of time that typically refers to any day in which normal business is conducted. This is generally considered to be Monday through Friday from 9am to 5pm local time, and excludes weekends and public holidays. Within the securities industry, any day the financial markets are open for trading is considered to be a business day.

(Source: Investopedia)