Securities firms aren’t the only ones losing money in this market, regulators are, too.

The Alberta Securities Commission has just published a quarterly report for the period ended September 30, showing a drop in net income from $1.23 million to $289,000 in the quarter.

Revenues are more or less flat year over year, but expenses spiked up to almost $3.8 million from $3 million a year ago. According to the report, about $300,000 of that was due to higher salaries. And, another $382,000 was lost on the sale of investments.

Revenues, excluding administrative penalties, were $4 million, down slightly from $4.1 million last year. Expenses rose 26.7% for the quarter.

Revenues overall for the six months were 2.7% below budgeted forecasts. It is anticipated that the second six months will be similar to the first six months and the overall revenue for the commission, due to the market uncertainty, maybe less than its budgeted forecasts.