FINANCIAL SERVICES INDUSTRY REGULATION PROGRAM - VOTE 1204
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.
FINANCIAL SERVICES INDUSTRY REGULATION PROGRAM 1204 - Operating Expenses Summary
| Item | ACTIVITIES |
2005-06 |
Change |
2004-05 |
2003-04 |
|
|---|---|---|---|---|---|---|
| 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 INDUSTRY REGULATION PROGRAM - Standard Accounts Classification of Activities and Sub-activities - OPERATING EXPENSES
| Financial Services Commission of Ontario (1204-1) Activity | $ | |
|---|---|---|
| Salaries and wages | 27,234,800 | |
| Employee benefits | 3,110,200 | |
| Transportation and communication | 794,000 | |
| Services | 17,303,100 | |
| Supplies and equipment | 1,308,400 | |
| Subtotal | 49,750,500 | |
| Less: Recoveries | 49,250,500 | |
| Activity Total | 500,000 | |
| Motor Vehicle Accident Claims Fund (1204-2) Activity | $ | |
|---|---|---|
| Salaries and wages | 1,453,100 | |
| Employee benefits | 324,500 | |
| Transportation and communication | 64,800 | |
| Services | 4,551,500 | |
| Supplies and equipment | 85,500 | |
| Subtotal | 6,479,400 | |
| Less: Recoveries | 6,478,400 | |
| Activity Total | 1,000 | |
| Total Operating for Financial Services Industry Regulation Program | 501,000 |
|---|---|