Proceedings of the Standing Senate Committee on
Banking, Trade and
Commerce
Issue 5 - Minutes of Proceedings
OTTAWA, Tuesday, November 18, 1997
(7)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met this day at 9:35 a.m. in room 505, Victoria Building, the Chairman, the Honourable Michael Kirby, presiding.
Members of the committee present: The Honourable Senators Angus, Austin, P.C., Callbeck, Hervieux-Payette, P.C., Kirby, Kelleher, P.C., Kolber, Oliver, Stewart and Tkachuk (10).
In attendance: From the Parliamentary Research Branch, Library of Parliament, Mr. Gerry Goldstein, Director, Economics division and Ms Margareth Smith, Research Officer, Law and Government Division.
Also present: The official reporters of the Senate.
WITNESSES:
From Keith P. Ambaschtsheer & Associates Inc:
Mr. Keith P. Ambaschtsheer, President.
From the Faculty of Law of the University of Toronto:
Professor Jeffrey G. MacIntosh.
From Cortex Applied Research Inc.:
Dr. John Por, President.
Pursuant to the Order of Reference adopted by the Senate on Wednesday, October 22, 1997, the committee resumed its examination into the state of the financial system in Canada and in particular its study of institutional investors. (See Issue No. 1, October 23, 1997, for the full text of the Order of Reference. )
Professor MacIntosh, Dr. Por and Mr. Ambaschtsheer made opening statements and then answered questions.
At 11:40 p.m. the committee adjourned to the call of the Chair.
ATTEST:
OTTAWA, Wednesday, November 19, 1997
(8)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met this day at 6:00 p.m. in room 505, Victoria Building, the Chairman, the Honourable Michael Kirby, presiding.
Members of the committee present: The Honourable Senators Angus, Austin, P.C., Callbeck, Hervieux-Payette, P.C., Kirby, Meighen, Oliver, Stewart and Tkachuk (9).
In attendance: From the Parliamentary Research Branch, Library of Parliament, Mr. Gerald Goldstein, Director, Economics Division and Ms Margaret Smith, Research Officer, Law and Government Division.
Also present: The official reporters of the Senate.
WITNESSES:
From the Pension Investment Association of Canada:
Mr. Donald T. Walcot, Executive Vice-President and Chief Investment Officer, Bimcor Inc., Montreal;
Mr. Russell J. Hiscock, Manager of Investments, CN Investment Division, Montreal; and
Ms Gretchen Van Riesen, Assistant General Manager, Pensions and Benefits Strategy, CIBC, Toronto.
From the Investment Funds Institute:
Mr. Thomas Hockin, President and Chief Executive Officer;
Mr. Jonathan Wellum, President & Portfolio Manager, AIC Group of Funds; and
Mr. Robert A.J. Leckey, Special Assistant to the President.
Pursuant to the Order of Reference adopted by the Senate on Wednesday, October 22, 1997, the committee resumed its examination into the state of the financial system in Canada and in particular its study of institutional investors. (See Issue No. 1, October 23, 1997, for the full text of the Order of Reference. )
Mr. Walcot made an opening statement and then, along with Mr. Hiscock and Ms Van Riesen, answered questions.
Mr. Hockin made an opening statement and then, along with Mr. Wellum, answered questions.
At 9:15 p.m. the committee adjourned to the call of the Chair.
ATTEST:
OTTAWA, Thursday, November 20, 1997
(9)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met this day at 11:05 a.m. in room 505, Victoria Building, the Chairman, the Honourable Michael Kirby, presiding.
Members of the committee present: The Honourable Senators Austin, P.C., Callbeck, Kelleher, P.C., Kirby, Oliver, Stewart and Tkachuk (7).
In attendance: From the Parliamentary Research Branch, Library of Parliament, Mr. Gerry Goldstein, Director, Economics Division and Ms. Margaret Smith, Research Officer, Law and Government Division.
Also present: The official reporters of the Senate.
WITNESSES:
Mr. Murray G. Davidson, Senior Partner and Chairman, Perform Consulting;
Mr. William R. Riedl, President, Fairvest Securities.
Pursuant to the Order of Reference adopted by the Senate on Wednesday, October 22, 1997, the committee resumed its examination into the state of the financial system in Canada and in particular its study of institutional investors. (See Issue No. 1, October 23, 1997, for the full text of the Order of Reference.)
Mr. Davidson made an opening statement and then answered questions.
Mr. Riedl made an opening statement and then answered questions.
At 1:40 p.m. the committee adjourned to the call of the Chair.
ATTEST:
Paul Benoit
Clerk of the Committee