Proceedings of the Standing Senate Committee on
Banking, Trade and
Commerce
Issue 51 - Minutes of Proceedings
TORONTO, Thursday, April 29, 1999
(103)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met this day at 9:00 a.m. in Wesley Room, Sutton Place Hotel, Toronto, the Chair, the Honourable Michael Kirby, presiding.
Members of the committee present: The Honourable Senators Angus, Hervieux-Payette, P.C., Kelleher, P.C., Kenny, Kirby, Kroft, Meighen and Oliver. (8)
In attendance: From the Parliamentary Research Branch, Library of Parliament: Mr. Gerry Goldstein, Director Economics Division.
Also present: The official reporters of the Senate.
WITNESSES:
From McLean Watson:
Mr. Loudon F. Owen, Managing Partner.
From the Bank of Montreal Capital Corporation:
Mr. David Pakrul, Senior Vice-President, Bank of Montreal.
From the Royal Bank Capital Corporation:
Mr. Jacques Sayegh, President and Chief Executive Officer.
From CIBC Capital Partners:
Mr. Ian Kidson, Managing Director.
From the Bank of Nova Scotia:
Mr. Rod Reynolds, President and Chief Executive Officer, RoyNat Inc.
From Nibiru Investments:
Mr. Dave Smardon, Managing Director.
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 equity financing. (See Issue No. 1, October 23, 1997, for the full text of the Order of Reference. )
Mr. Owen made an opening statement and then answered questions.
Mr. Pakrul made an opening statement and then answered questions.
Mr. Sayegh made an opening statement and then answered questions.
Mr. Kidson made an opening statement and then answered questions.
Mr. Reynolds made an opening statement and then answered questions.
Mr. Smardon made an opening statement and then answered questions.
At 12:15 p.m. the committee adjourned to the call of the Chair.
ATTEST:
Gary Levy
Clerk of the Committee