Ministry of Finance - Vote 745

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The Expenditure Estimates are available in PDF and HTML versions. The PDF version is a format reflecting the true printed version. The HTML version is an accessible format.

FINANCIAL SERVICES INDUSTRY REGULATION PROGRAM - VOTE 1204

The Financial Services Commission of Ontario provides for the regulation, supervision and policy direction of the insurance, deposit institutions (Ontario Loan and Trust Corporations, Credit Unions and Cooperatives, Caisse Populaires, Mortgage Brokers) and private pension plan sectors in Ontario. The focus of the program is to protect public interest and hence public confidence and create the business climate which increases Ontario's domestic and international competitiveness. In addition, this program provides for the administration of the Motor Vehicle Accident Claims Act in respect of adjustment claims and payment of damages occasioned by the operation of stolen, unidentified or uninsured motor vehicles. Securities regulation in Ontario is performed by the Ontario Securities Commission (OSC). On November 1, 1997, the OSC became a self-funding agency, financing its operations through retention of its fee revenues.

FINANCIAL SERVICES INDUSTRY REGULATION PROGRAM - Operating Summary

VOTE and item 2001-02 Estimates PROGRAM AND ACTIVITIES Change from 2000-01 2000-01 Estimates 1999-00 Actual
  $   $ $ $
1204   FINANCIAL SERVICES INDUSTRY REGULATION PROGRAM      
OPERATING          
1 39,281,200 Financial Services Commission of Ontario 2,284,900 36,996,300 35,977,916
2 7,400,000 Motor Vehicle Accident Claims Fund 1,400,000 6,000,000 -
  46,681,200 Total Operating 3,684,900 42,996,300 35,977,916
  46,681,200 Amount to be Voted 3,684,900 42,996,300 35,977,916

FINANCIAL SERVICES INDUSTRY REGULATION PROGRAM - Standard Accounts Classification of Activities and Sub-activities - OPERATING

OPERATING  
Financial Services Commission of Ontario (1204-1)  
  $
Salaries and wages 21,827,900
Employee benefits 3,779,200
Transportation and communication 753,600
Services 11,751,500
Supplies and equipment 1,369,000
Transfer payments  
Schulich School Grant 20,000
  39,501,200
Less: Recoveries 220,000
  39,281,200
   
Motor Vehicle Accident Claims Fund (1204-2)  
  $
Salaries and wages 1,216,600
Employee benefits 276,200
Transportation and communication 62,900
Services 3,269,000
Supplies and equipment 83,000
Transfer payments  
Subsidization of Motor Vehicle Accident  
Claims Fund 7,399,000
  12,306,700
Less: Recoveries 4,906,700
  7,400,000
Total Operating for Financial Services Industry Regulation Program 46,681,200