The Financial Services Commission of Ontario 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. The Financial Services Commission of Ontario 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. On November 1, 1997, the Ontario Securities Commission became a self-funding agency, financing its operations through retention of its fee revenues.
|1||Financial Services Commission of Ontario||500,000||(-46,419,800)||46,919,800||39,474,204|
|2||Motor Vehicle Accident Claims Fund||1,000||(-862,200)||863,200||862,201|
|Total Operating Expenses||501,000||(-47,282,000)||47,783,000||40,336,405|
|Amount to be Voted||501,000||(-47,282,000)||47,783,000||40,336,405|
|Financial Services Commission of Ontario (1204-1) Activity||$|
|Salaries and wages||27,234,800|
|Transportation and communication||794,000|
|Supplies and equipment||1,308,400|
|Motor Vehicle Accident Claims Fund (1204-2) Activity||$|
|Salaries and wages||1,453,100|
|Transportation and communication||64,800|
|Supplies and equipment||85,500|
|Total Operating for Financial Services Industry Regulation Program||501,000|