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Autorité des Marchés Financiers du Canada Annual Report (2020)

Financial Performance and Activities

The Autorité des Marchés Financiers du Canada (AMF) annual report for 2020 highlights its financial performance and activities from January 1, 2020 to December 31, 2020.

Key Highlights

Total Assets and Liabilities

  • As at December 31, 2020, the total assets of the AMF were US$8,533,316, an increase from $5,893,060 in 2019.
  • The total liabilities stood at US$5,595,900, a significant increase from $2,872,365 in 2019. This primarily reflects an increase in statutory deposits held by the AMF.

Accumulated Reserves

  • The accumulated reserves of the AMF were US$2,937,416 as at December 31, 2020, a decrease from $3,020,695 in 2019.
  • This decrease resulted from the net deficit reported in the section on Financial Performance Analysis.

Revenue and Expenditure

  • Total revenue decreased by 14.6% or US$165,136 to US$967,041 in 2020 compared to US$1,132,177 in 2019.
    • The decline was primarily due to a decrease in license fees, which fell by 10.7% or US$102,953.
  • Total expenses decreased by 0.70% or US$7,263 to US$1,050,320 in 2020 compared to $1,057,583 in 2019.
    • The decrease was due to significant reductions in certain categories such as Training and Conference costs, Travel and subsistence.

Depreciation Expense

  • Depreciation expense saw a substantial increase of $49,477 (397.8% over the previous year), primarily due to the adoption of the new accounting standard, IFRS 16-Leases.

Subscription Expenses

  • Subscription expenses increased by 97.6% from $17,769 in 2019 to $35,113 in 2020, reflecting the AMF’s subscription to various critical technological platforms.