Proceedings of the Standing Senate Committee on
Banking, Trade and
Commerce
Issue 24 - Minutes of Proceedings
OTTAWA, Tuesday, June 23, 1998
(42)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met this day at 9:45 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., Kelleher, P.C., Kenny, Kirby, Meighen and Oliver (9).
In attendance: From the Parliamentary Research Branch, Library of Parliament: Ms Margaret Smith, Research Officer, Law and Government Division.
Also present: The official reporters of the Senate.
WITNESSES:
From Fasken Campbell Godfrey:
Mr. John Campion; and
Mr. Robin Roddy, Researcher.
From the Investment Dealers Association of Canada:
Mr. Joseph J. Oliver, President and Chief Executive Officer;
Mr. Thomas I.A. Allen, Public Director, IDA and Counsel, Ogilvy Renault;
Mr. Peter L. Jones, Chairman, Corporate Finance Committee and Executive Vice-President, First Marathon Securities Inc.; and
Mr. Ian C.W. Russell, Senior Vice-President, Capital Markets.
From the Certified General Accountants Association of Canada:
Mr. Vern Krishna, Professor, University of Ottawa, Faculty of Law; and
Mr. Marc Boudreau, Vice-President, Public and Government Relations.
From the Canadian Institute of Chartered Accountants:
Mr. Michael Rayner, President;
Mr. Ross Walker, Chairman, Legal Liability Task Force; and
Mr. Rob Brown, Blake Cassels & Graydon, Legal Counsel.
From the Canadian Bar Association:
Mr. John Hoyle, Executive Director; and
Ms Alison Manzer, Chair, Committee on Financial Institutions Legislative Reform.
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 professional liability. (See Issue No. 1, October 23, 1997, for the full text of the Order of Reference.)
Messrs Krishna, Walker, Oliver, Campion and Ms Manzer made opening statements and then answered questions.
The committee moved, in camera, to discuss its report.
At 11:50 a.m.. the committee adjourned to the call of the Chair.
ATTEST:
Gary Levy
Clerk of the Committee