More than 100 OSC staffers in $100k club

(March 31, 2003) One hundred and six Ontario Securities Commission staff members earn more than $100,000 per year, the Ontario government revealed today. The OSC salary list is topped by chair David Brown, who made $552,000. The province releases salary information annually under the terms of the 1996 Public Sector Salary Disclosure Act.

Other high-earning OSC staffers include vice-chair Howard Wetston ($399,549), executive director Charles MacFarlane ($383,305) and vice-chair Paul Moore ($376,549).

Salaries and benefits cost the OSC $34 million in fiscal 2002, the commission reported earlier this year, nearly 70% of total expenditures. Still, the OSC recorded a $30 million surplus last year.

Ontario’s pension and insurance regulator, the Financial Services of Commission of Ontario, has 32 $100,000-plus earners. Compliance director John Harper tops the FSCO list at $187,183.

Filed by Doug Watt, Advisor.ca, dwatt@advisor.ca