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OSC Glossary


Acronym Category Description



An asset backed commercial paper is a short-term investment with maturity between 90 and 180 days. The security is typically issued by a bank or financial institution. The notes are backed by physical assets.

(Source: Allen & Overy Briefing Papers Glossary and Investopedia)



 Accounting Standards Board is an independent body with the authority to develop and establish accounting standards for use by all Canadian entities outside the public sector. The activities are overseen by the Accounting Standards Oversight Council (AcSOC).

(Source: FRAS website)



 Accounting Standards Oversight Council appoints the members of the AcSB and provides input to the AcSB, primarily in terms of its strategic direction and priorities. AcSOC also assesses and reports to the public on the performance of the AcSB.

(Source: FRAS website)     

ACSM Markets

 An alternative coupon satisfaction mechanism.

(Source: Allen & Overy Briefing Papers Glossary)

ADR Markets

American Depository Receipts is a dollar-denominated negotiable certificate that represents ownership of shares in a non-U.S. company. The structure of an ADR includes a ratio, which correlates the amount of underlying shares to the receipt.

(Source: SEC website)

 Adviser Markets

Advisers provide investment advice to clients and execute trades on their behalf in securities and other investment products.

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

 Administrative Body  

Administrative bodies are organizations that use specialist tribunals, or courts, to enforce rules and regulations it passes. The OSC is an administrative body.

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

Annual Information Form provides general information about the corporate structure, directors, executives, history and business of a company. Part of the disclosure required by securities law, and available through SEDAR.

(Source: OSC Information for Companies)
 AIMR Markets

Association for Investment Management and Research, now the CFA, 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)
AIRB Approach  Markets

Advanced internal ratings based approach.

(Source: Allen & Overy Briefing Papers Glossary)
 AIRB bank Markets

Bank that adopts the advanced internal ratings based approach.

(Source: Allen & Overy Briefing Papers Glossary)

Association of Law Officers of the Crown represents lawyers and articling students employed by the government of Ontario, with the exception of lawyers in the Criminal Law Division, who are represented by its sister organization, the Ontario Crown Attorney’s Association (OCAA).

(Source: ALOC website)
 AM or AMA Markets

Advanced Measurement approach


Advanced Methodology Approach that allows banks to use their own internal   operational risk measurement systems to calculate their capital requirement in respect of their exposure to operational risk.

(Source: Morgan Stanley Intuition website)
 AMEX Markets

American Stock Exchange, also known as the NYSE, connects and operates global capital markets through a fully integrated trading platform.

(Source: Investopedia)
 AMF Regulatory

Autorité des Marches financiers is a body mandated by the government of Quebec to regulate the province’s financial markets and provides assistance to consumers of financial products and services aka Quebec Securities Commission.

(Source: AMF website)
 Applications Regulatory

Applications are used if a company requires relief from a requirement in securities legislation, it may file an application for discretionary relief. The following provides   more information on the different types of applications and how they should be filed. 
For relief in multiple jurisdictions, a company should file an application under National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions (NP 11-203). NP 11-203 describes the process for filing applications, the types of applications that can be made and how a company determines its principal regulator. 
Where relief is required in Ontario only, a company should file an application under OSC Policy 2.1 Applications to the Ontario Securities Commission.

Types of Applications

The five different types of applications for   relief a company can file are: Passport application, Dual application, Coordinated review application, Hybrid application, Local application. Each type of application identified, other than a local application, usually involves a company seeking the identical relief in multiple jurisdictions.

(Source: OSC website)
APT  Markets

Advanced persistent threat usually refers to a group, such as a government, with both the capability and the intent to persistently and effectively target a specific entity. The term is commonly used to refer to cyber threats, in particular that of Internet-enabled espionage using a variety of intelligence gathering techniques to access sensitive information.  

(Source: Wikipedia)
 ASC Regulatory

Alberta Securities Commission is the province’s equivalent to the OSC.

(Source: ASC website)
 Asian Tigers Markets

Taiwan,South Korea, Hong Kong, and Singapore are a grouping of Asian emerging   markets.

(Source: Globe & Mail)
 ASIC Regulatory

Australian Securities & Investments Commission

(Source: ASIC website)
 ATS Markets

Alternative Trading System is a computer-based system that automates the process of trading in whole or in part.

(Source: McIntosh & Nicholls, Essentials of Canadian Law : Securities Law. P. 117 & Investopedia)