Accountability and Stakeholder Engagement
A memorandum of understanding (MOU) with the Minister of Finance establishes the accountability relationship between the Ontario Securities Commission and the Minister, including detailed reporting requirements. The MOU describes the roles and responsibilities of the Minister of Finance, the Chair, the CEO, the Board, the Chief Adjudicator, and the Deputy Minister of Finance.
A separate memorandum of understanding between the Chair of the Commission and the Chief Adjudicator sets out the accountability and reporting relationship with respect to the Capital Markets Tribunal and the Commission’s Board of Directors. An Operations Protocol provides for resource sharing and operational support between the Tribunal and the rest of the Commission.
The Commission is required to deliver a Statement of Priorities and Business Plan for the current fiscal year and an Annual Report. The MOU requires that information related to the Tribunal’s activities be included in the Commission’s Annual Report and Business Plan.
Details of how the Commission remunerates Adjudicators and reimburses expenses are set out in the Adjudicator Remuneration and Expenses Policy. Once available, information about individual Adjudicator expense reimbursement will be disclosed on the OSC website – Expense disclosure.