ABOUT FINANCE

COMMISSIONS & AGENCIES

In addition to its roles as a central agency and line ministry for the Government of Ontario, the Ministry of Finance is also responsible for managing the Province's regulatory affairs.

Some of the Ministry's key regulatory responsibilities include ensuring prudent management of the province's debt; regulating financial services to protect consumers and inspire investor confidence; managing the financing program at the Ontario Electricity Financial Corporation, and overseeing the Province's automobile insurance industry.

In this section, you will find information about the various arm's length agencies that help the Ministry carry out these regulatory functions. Follow the links to explore the roles these agencies play in your life.

The Web sites linked to (listed below) are created by or for organizations outside of the Ontario government, and those organizations are responsible for the information contained within their respective sites. These sites might not be available in French. Any specific comments or inquiries regarding those sites should be directed to the individual organization.

Deposit Insurance Corporation of Ontario

http://www.dico.com
(416) 325-9444
1-800-268-6653

The Deposit Insurance Corporation of Ontario was established in 1976 by the Credit Unions and Caisses Populaires Act. Its mission is "to protect depositors" of Ontario credit unions and caisses populaires. DICO is administered by a board of directors appointed by the government, and is accountable to the Provincial Legislature through the Minister of Finance. It provides deposit insurance for individual depositors to a current limit of $100,000. Under the Credit Unions and Caisses Populaires Act, 1994 S.O., the Corporation's responsibilities include: providing deposit insurance, acting as the stabilization authority for the system, minimizing deposit insurance claims, promoting standards of sound business practices, collecting and publishing statistics, providing financial assistance to units under administration, acting as administrator of member institutions.

Financial Services Commission

http://www.fsco.gov.on.ca
(416) 250-7250
1-800-668-0128

The Financial Services Commission, established July 1, 1998, amalgamated the Ontario Insurance Commission, the Pension Commission of Ontario, and the Deposit Institutions Division of the Ministry of Finance.

The Financial Services Commission of Ontario (FSCO) regulates co-operatives, credit unions, caisses populaires, insurance (including auto insurance and the Motor Vehicle Accident Claims Fund), loan & trust companies, mortgage brokers, and pensions.

FINANCIAL SERVICES TRIBUNAL

http://www.fstontario.ca/english/
(416) 590-7294
1-800-668-0128 ext. 7294

The Financial Services Tribunal is an independent, adjudicative body composed of nine to 15 members, including the Chair and two Vice-Chairs. The Tribunal has exclusive jurisdiction to exercise the powers conferred under the Financial Services Commission of Ontario Act, 1997 and other Acts that confer powers on or assign duties to the Tribunal. It also has exclusive jurisdiction to determine all questions of fact or law that arise in any proceeding before it. As well, the Tribunal has authority to make rules for the practice and procedure to be observed in a proceeding before it and to order a party to a proceeding before it to pay the costs of another party or the Tribunal's costs of the proceeding.

LCBO

http://www.lcbo.com/main/en.shtml
1-800-ONT-LCBO

The LCBO is a provincial government enterprise employing some 6,500 people, including part-time workers, with more than 600 stores across Ontario supplied by five regional distribution centres.

More than 19,000 products are available to Ontario consumers through stores, special order programs and catalogues.

Consumer Information

Consumers can call the LCBO's Infoline toll-free for information on LCBO products and services:

Tel: 1-800-ONT-LCBO (1-800-668-5226), or in Toronto: 416 365-5900.
Fax: 416 864-2596.
E-mail: infoline@lcbo.com.

TTY number for the deaf and hearing impaired: 1-800-361-3291, or in Toronto: 416 864-6898.

Ontario Electricity Financial Corporation

http://www.oefc.on.ca/
416-325-8000

Ontario Electricity Financial Corporation was established by the Electricity Act, 1998 as legal continuation of former Ontario Hydro. OEFC is an agency of the Province of Ontario, is responsible for servicing and retiring Ontario Hydro's provincially guaranteed debt and managing other liabilities. It relies on a series of revenue streams generated from the electricity sector to extinguish its obligations. Ontario Financing Authority, an agency of the Province of Ontario provides various services to OEFC: arranging, coordinating and managing borrowing, investment of funds and financial risk management, cash management, banking and accounting services. OEFC will continue as administrator until the Pension Plan assets and liabilities can be allocated among the pension plans of other successor companies to Ontario Hydro. Ontario Electricity Pension Services Corporation, subsidiary of OEFC, provides pension services as agent of OEFC in its capacity as administrator of the Pension Plan.

Ontario Financing Authority

http://www.ofina.on.ca
(416) 325-8000

The Ontario Financing Authority is an agency of the Province of Ontario created under the Capital Investment Plan Act, 1993, and reporting to the Minister of Finance. It is responsible for arranging, co-ordinating and managing the borrowing and investment of funds and financial risk management activities on behalf of the Province, its Crown corporations and other public bodies, in the most efficient and cost-effective way.

Ontario Securities Commission

http://www.osc.gov.on.ca

The Ontario Securities Commission administers and enforces securities legislation in the Province of Ontario. Its mandate is to:

Provide protection to investors from unfair, improper and fraudulent practices
Foster fair and efficient capital markets and confidence in their integrity

Stadium Corporation of Ontario Limited

The Stadium Corporation of Ontario Limited ( STADCO) is an agency of the Province of Ontario. STADCO was incorporated on August 1, 1984 under the Business Corporations Act and the Minister of Finance is the sole shareholder.

STADCO is responsible for all contingent liabilities and obligations resulting from its original ownership interest in the SkyDome (now Rogers Centre).

Contact:stadco@sympatico.ca