Proceedings of the Standing Senate Committee on
Banking, Trade and
Commerce
Issue 35 - Minutes of Proceedings
VANCOUVER, Wednesday, October 29, 1998
(70)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met this day at 9:00 a.m. in the Innes Thompson Room of the Delta Vancouver, Vancouver, the Chairman, the Honourable Michael Kirby, presiding.
Members of the committee present: The Honourable Senators Austin, P.C., Callbeck, Hervieux-Payette, P.C., Kelleher, P.C., Kenny, Kirby, Kroft, Meighen, Oliver, and Tkachuk (10).
Other senators present: The Honourable Senators Carney, P.C. and St. Germain, P.C. (2).
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:
From the British Columbia and Alberta Securities Commissions:
Mr. Douglas M. Hyndman, Chair, British Columbia Securities Commission;
Mr. William L. Hess, Chair, Alberta Securities Commission;
Ms Joyce Maykut.
From the Insurance Brokers Association of British Columbia:
Mr. Michael Megson, President;
Mr. Roger Finnie, Director;
Mr. C.J. (Chuck) Byrne, Executive Director;
Mr. Bruce Pollock, Deputy General Manager.
From the Federation of Canadian Independent Deposit Brokers:
Mr. Brad Minton, President;
Mr. Jack Rothenberg, Founding Member, Montreal.
From the Hongkong Bank of Canada:
Mr. Youssef A. Nasr, President and Chief Executive Officer.
From the Alberta Treasury Branch:
Mr. Robert Ascah, Senior Vice-President, Policcy and Strategic Planning.
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 the Task Force on the Future of the Canadian Financial Services Sector. (See Issue No. 1, October 23, 1997, for the full text of the Order of Reference.)
Mr. Hess made an opening statement and then, along with Mr. Hyndman and Ms Maykut, answered questions.
Mr. Megson made an opening statement and then, along with other witnesses, answered questions.
Mr. Rothenberg made an opening statement and then, along with Mr. Minton, answered questions.
Mr. Nasr made an opening statement and then answered questions.
Mr. Ascah made an opening statement and then answered questions.
At 12:45 p.m., the committee adjourned to the call of the Chair.
ATTEST:
Gary Levy
Clerk of the Committee