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OSC Glossary


Acronym Category Description
PAM OSC Performance Award Modeller
PCC OSC Policy Coordination Committee
PD Markets

Probability of default.

(Source: Allen & Overy Briefing Papers Glossary)
PEI Department of Environment, Labour and Justice Regulatory

The Government of PEI’s Department of Environment, Labour and Justice has a securities branch that serves as the province’s OSC equivalent, the Office of the Superintendent of Securities, aka the Newfoundland Securities Commission. 

(Source: PEI website)
PIK Markets

Payment in Kind is a bond that gives the issuer the option to pay the investor with a bond which has a par value equal to the face value of the coupon payment due as opposed to paying a cash coupon.

(Source: Morgan Stanley Intuition website)
Pillar 1 Law

Pillar 1 is the minimum capital requirements element of Basel II.

(Source: Allen & Overy Briefing Papers Glossary)
Pillar 2 Law

Pillar 2 is the supervisory review process element of Basel II.

(Source: Allen & Overy Briefing Papers Glossary)
Pillar 3 Law

Pillar 3 is the market discipline element of Basel II.

(Source: Allen & Overy Briefing Papers Glossary)

Performance and Talent Management System is an on-line HR system which   automates employees’ performance management processes. The Performance   Management module allows users to create and maintain their performance and   learning plan while aligning individual goals with branch goals.

(Source: OSC, intranet)

Provincial Offenses Act Cited as RSO 1990, c. P.33.

(Source: e-Laws)
Poison Pill Markets

Poison Pill is a strategy used by corporations to discourage hostile takeovers. The   target company attempts to make its stock less attractive to the acquirer. There are two types of poison pills: 

(Source: Investopedia)
POP System Markets

Prompt Offering Prospectus is an abbreviated prospectus offering, which allows for a more rapid review by regulators. More formally known as the “short form distribution system”.

(Source: NI 44-101)
Ponzi Scheme Law

Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from profit earned by the individual or organization running the operation. The Ponzi scheme usually entices new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent. Perpetuation of the high returns requires an ever-increasing flow of money from new investors to keep the scheme going.  Named after Charles Ponzi, a Montrealer,  who ran such a plot from 1919-1920 in NYC.

(Source: Wikipedia)
PRA Regulatory

Prudential Regulation Authority, as of April 2013, in conjunction with the FCA, operates as a regulating body filling the role of the FSA. It is a part of the Bank of England and is responsible for the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment firms, regulating around 1700 financial firms.

(Source: Bank of England, PRA webpage)
Prospectus Law

Prospectus is a legal document that provides investors with full, true, and plain disclosure about  the securities it relates to. This may include information about the company or a mutual fund issuing the securities, their products, management, financial and strategic planning, and risk.

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

Public Sector Accounting Board is the authoritative standard-setting body for the public sector – federal, provincial and municipal.

(Source: FRAS, website)
PSE Markets

Public sector entity.

(Source: Allen & Overy Briefing Papers Glossary)
PTC OSC Personal Trading Compliance – OSC employee policy.
Pyramid scheme Law

A pyramid scheme is a form of fraud similar in some ways to a Ponzi scheme, relying as it does on a mistaken belief in a nonexistent financial reality, including the hope of an extremely high rate of return. However, several characteristics distinguish these schemes from Ponzi schemes:

·     In a Ponzi scheme, the schemer acts as a "hub" for the victims, interacting with all of them directly. In a pyramid scheme, those who recruit additional participants benefit directly. (In fact, failure to recruit typically means no investment return.)

·     A  Ponzi scheme claims to rely on some esoteric investment approach and often attracts well-to-do investors; whereas pyramid schemes explicitly claim that new money will be the source of payout for the initial investments.

·     A pyramid scheme typically collapses much faster because it requires exponential increases in participants to sustain it. By contrast, Ponzi schemes can survive simply by persuading most existing participants to reinvest their money, with a relatively small number of new participants.

(Source: Wikipedia)