Finance committee  My name is Nicolas Marion. I am the Chief of the Economic Analysis unit, Securities Policy Division, Department of Finance.

Finance committee  Actually, the $33 million was earmarked under the Canadian Securities Regulation Regime Transition Office Act. A total of $33 million has been transferred to the transition office. Under the legislation that created it, the transition office must submit annual reports to Parliam

Finance committee  Parliament has approved $33 million. At the end of its last fiscal year, the office had spend about $14 million of that total. Therefore, you can see that the remainder of the $33 million is supposed to cover the rest of the office's mandate, which ends in July of next year.

Finance committee  Here is how that works. The Minister of Finance has the authority to transfer amounts of up to $33 million to the transition office so that it can carry out its mandate. Its responsibility is to develop and set up a national securities regulator. At the end of last fiscal year, t