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 (FSCO) provides for the regulation of insurance, pension plans, loan and trust companies, credit unions and caisses populaires, mortgage brokers and co-operative corporations by delivering efficient and effective regulatory services that protect consumers of financial services and support a reliable, dynamic and competitive industry. FSCO also makes recommendations to the Minister on matters affecting the regulated sectors. In addition, the Motor Vehicle Accident Claims Fund compensates persons injured in automobile accidents in Ontario by an uninsured, unidentified or stolen vehicle where there is no other insurance available to respond to the claim.

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 2002-03 Estimates PROGRAM AND ACTIVITIES Change from 2001-02 2001-02 Estimates 2000-01 Actual
  $   $ $ $
1204   FINANCIAL SERVICES INDUSTRY REGULATION PROGRAM      
OPERATING          
1 40,234,900 Financial Services Commission of Ontario 953,700 39,281,200 36,451,467
2 1,000 Motor Vehicle Accident Claims Fund (7,399,000) 7,400,000 -
  40,235,900 Total Operating (6,445,300) 46,681,200 36,451,467
  24,000,000 Less: Special Warrants 24,000,000 - -
  16,235,900 Amount to be Voted (30,445,300) 46,681,200 36,451,467

FINANCIAL SERVICES INDUSTRY REGULATION PROGRAM - Standard Accounts Classification

OPERATING  
Financial Services Commission of Ontario (1204-1) $
Salaries and wages 21,726,200
Employee benefits 3,832,700
Transportation and communication 722,900
Services 12,798,100
Supplies and equipment 1,355,000
Transfer payments  
Schulich School Grant 20,000
  40,454,900
Less: Recoveries 220,000
  40,234,900
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
  4,907,700
Less: Recoveries 4,906,700
  1,000
Total Operating for Financial Services Industry Regulation Program 40,235,900