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See Old age security.


See Ombudsman for Banking Services and Investments.

Offering memorandum

A document describing the business of an issuer. This document is designed to help potential buyers make an investment decision when they are considering exempt-market securities.

Offering memorandum prospectus exemption

An exemption that allows companies to sell securities to a wide range of investors based on the availability of an offering memorandum. Anyone can buy securities under this exemption, but there are limits depending on whether they are an eligible or non-eligible investor.

Old age security

Canada's largest public pension program. You qualify if you are age 65 and you have lived in Canada for at least 10 years after age 18. You may pay tax on your OAS income.

Ombudsman for Banking Services and Investments

A national, independent and not-for-profit organization that helps resolve disputes between consumers and financial services firms when they can't come to a resolution on their own.

Online brokerage

A brokerage firm that lets you make your own investment choices and carry them out over the internet. You pay lower fees than if you used a full-service broker.

Online investment advisor

A business that offers professional money management services to investors over the internet. Often referred to as "robo-advisors."

Ontario Securities Commission

An independent Crown corporation that is responsible for regulating the capital markets in Ontario. Its mandate is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair and efficient capital markets and confidence in capital markets, and to contribute to the stability of the financial system and the reduction of systemic risk.

Open-ended fund

A type of mutual fund where there are no limits on the number of units it can sell. If demand is high enough, the fund will continue to issue more. Will also buy back units when investors want to sell. Most mutual funds are open-ended.

Operating line

A type of loan that lets you borrow the money you need when you need it, up to a set amount.

Operating statement

A detailed statement of a business's income, spending and taxes. It shows the health of the business over a period of time, including whether it has made or lost money. Also called an income statement.


An investment that gives you the right to buy or sell it at a set price by a set date. The buy right is termed a "call" option, and the sell right is termed a "put" option. You buy options on a stock exchange.


See Ontario Securities Commission.

Over-the-counter (OTC) markets

Dealer networks where "unlisted" stocks are traded.

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