What is this sign?

I recently noticed this insignia on the forehead of King Edwards VII’s equestrian statue in Queen’s Park.  It was certainly not there in previous pictures. 

Then on the monument to democracy sculpture at the University of Toronto.

It does not seem like a legitimate mark (at least in the case of a King’s forehead). Maybe it is some kind of prank by the students of the university but I am not entirely sure. Letters are hard to read and Google image search has returned nothing so far.

Update June 17, 2019:
Finally found out that it is indeed a prank. It is written 'BFC' in Old English font.

BFC refers to the 'The Brute Force Committee' and its site declares:

"The Brute Force Committee is a figment of your imagination. We do not exist, we have never existed, and we will never exist."

There are pranking code and guide resources available on the site along with the history of previous pranks and pictures.  I think these people are seriously cool.