Funding & Accountability
The British Columbia Security Commission’s enabling legislation is the Securities Act, RSBC 1996, c. 418.
As a self-funded Crown corporation, the BCSC is accountable to the provincial legislature and the public through the Minister of Finance.
At the beginning of each year, we prepare and submit a Three-Year Service Plan to the provincial Ministry of Finance and Treasury Board as required by the Securities Act and the Budget Transparency and Accountability Act. It commits us to performance targets for each year.
At the end of each year, we prepare and submit to the Minister of Finance an Annual Report on our performance against the Service Plan. Our Annual Report includes our annual audited financial statements and is tabled in the British Columbia Legislature. We also prepare an annual Financial Information Act Report, and an annual Executive Compensation Disclosure and Appointee Remuneration Disclosure.
Each year, the BCSC chair and commissioners, and the Minister of Finance sign a Mandate Letter. This letter sets out the respective roles and responsibilities of the BCSC and the province of British Columbia and, at a high level, the government’s expectations of the BCSC.
Our operations are funded through fees paid by securities market participants under the Securities Act.