Here’s which securities commission head made the most

By Staff | April 17, 2017 | Last updated on April 17, 2017
2 min read

It pays to run a securities regulator in the country’s four largest provinces, a review has found.

In 2015, the country’s highest-paid securities chief was the Alberta Securities Commission’s CEO, William Rice (since replaced by Stan Magidson). Rice earned $577,092.74 a year.

That’s more than the four lowest-paid commission heads combined, and almost $80,000 a year more than Brenda Leong of the British Columbia Securities Commission, who earned $499,251 and is next on the list.

Are these salaries reasonable? Michel Mailloux, a financial planner and trainer in financial ethics, says they’re nothing to be shocked about. “What is important, I think, is to look at the ratio between the executive’s salary and the average salary of the organization’s employees. Here, it should be a ratio ranging between five and eight approximately,” he estimates, which he says is acceptable.

To read more analysis from by reporter Jean-François Venne, go here (en français).

And see the national regulators’ 2015 salaries below:

  • Alberta Securities Commission: William Rice, $577,092.74 (Rice has since been replaced by Stan Magidson)
  • British Columbia Securities Commission: Brenda Leong, $499,251
  • Ontario Securities Commission: Maureen Jensen, $477,390.22
  • Autorité des marches financiers: Louis Morisset, $414,758
  • Financial and Consumer Affairs Authority of Saskatchewan: Roger Sobotkiewicz, $176,496
  • Manitoba Securities Commission: Don Murray, $160,000 (salary for 2016)
  • New Brunswick Financial and Consumer Services Commission: Rick Hancox, ranging from $131,957 to $164,703
  • Securities Commission of Newfoundland: John O’Brien, $104,230
  • Prince Edward Island Securities Office: Steve Dowling, ranging from $99,163 to $128,967
  • Nova Scotia Securities Commission: Paul E. Radford, $91,533.48

Also read:

Bank earnings roundup

Wealth management earnings roundup

Executive pay information from CIBC, Laurentian, BMO, RBC, Scotiabank and TD. staff Staff

The staff of have been covering news for Quebec financial advisors since 2000.