FINANCIAL SERVICES INDUSTRY REGULATION PROGRAM - VOTE 1204
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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 1204 - Operating Expenses Summary
| VOTE and item | Accrual 2004-05 Estimates | VOTE AND ITEMS | Change from 2003-04 | Accrual 2003-04 Estimates | Cash 2002-03 Actual |
|---|---|---|---|---|---|
| $ | $ | $ | $ | ||
| 1204 | FINANCIAL SERVICES INDUSTRY REGULATION PROGRAM | ||||
| OPERATING | |||||
| 1 | 46,919,800 | Financial Services Commission of Ontario | 5,653,100 | 41,266,700 | 40,176,504 |
| 2 | 863,200 | Motor Vehicle Accident Claims Fund | - | 863,200 | - |
| 47,783,000 | Total Operating | 5,653,100 | 42,129,900 | 40,176,504 | |
| - | Less: Special Warrants | (31,200,000) | 31,200,000 | - | |
| 47,783,000 | Amount to be Voted | 36,853,100 | 10,929,900 | 40,176,504 |
| OPERATING | |
|---|---|
| Financial Services Commission of Ontario (1204-1) | $ |
| Salaries and wages | 27,234,800 |
| Employee benefits | 3,110,100 |
| Transportation and communication | 794,000 |
| Services | 15,302,500 |
| Supplies and equipment | 1,308,400 |
| Transfer payments | |
| Schulich School Grant | 20,000 |
| 47,769,800 | |
| Less: Recoveries | 850,000 |
| 46,919,800 | |
| Motor Vehicle Accident Claims Fund (1204-2) | $ |
| Salaries and wages | 1,253,100 |
| Employee benefits | 284,500 |
| Transportation and communication | 64,800 |
| Services | 3,399,800 |
| Supplies and equipment | 85,500 |
| Other transactions | 862,200 |
| 5,949,900 | |
| Less: Recoveries | 5,086,700 |
| 863,200 | |
| Total Operating for Financial Services Industry Regulation Program | 47,783,000 |