This isn’t only a Bic requirement, though the company’s Cristal pens do have particularly obvious holes. The International Organization for Standardization, a federation that sets industrial standards for 161 countries, requires it. ISO 11540 specifies that if pens must have caps, they should be designed to reduce the risk of asphyxiation if they’re swallowed.
It applies to writing instruments “which in normal or foreseeable circumstances are likely to be used by children up to the age of 14 years.” Fancy fountain pens and other writing instruments that are clearly designed for adult use don’t need to have holes in them, nor do caps that are large enough that you can’t swallow them. Any pen that could conceivably make its way into the hands of a child needs to have an air hole in the cap that provides a minimum flow of 8 liters (about 2 gallons) of air per minute, according to the standard [PDF].
