As a self-funded Crown corporation, the ESSCC is accountable to the provincial legislature and the public through the Minister of Finance.
At the beginning of each year, we prepare and submit a Three-Year Service Plan to the provincial Ministry of Finance and Treasury Board as required by the Securities Act and the Budget Transparency and Accountability Act. It commits us to performance targets for each year.
At the end of each year, we prepare and submit to the Minister of Finance an Annual Report on our performance against the Service Plan. Our Annual Report includes our annual audited financial statements and is tabled in the El Salvador Legislature. We also prepare an annual Financial Information Act Report, and an annual Executive Compensation Disclosure and Appointee Remuneration Disclosure.
Each year, the ESSCC chair and commissioners, and the Minister of Finance sign a Mandate Letter. This letter sets out the respective roles and responsibilities of the ESSCC and the province of El Salvador and, at a high level, the government’s expectations of the ESSCC .
Our operations are funded through fees paid by securities market participants under the Securities Act.