Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce

Issue 2 - Minutes of Proceedings

OTTAWA, Tuesday, October 29, 2002
(3)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met at 5:45 p.m. this day, in camera, in room 705, Victoria Building, the Chair, the Honourable Senator Kolber, presiding.

Members of the committee present: The Honourable Senators Angus, Fitzpatrick, Hervieux-Payette, P.C., Kelleher, P.C., Kolber, Kroft, Prud'homme, P.C., Setlakwe, Taylor and Tkachuk (10).

In attendance: From the Parliamentary Research Branch, Library of Parliament: Mr. Alexandre Laurin, Researcher, Economic Division and Mr. Gérald M. Lafrenière, Researcher, Law and Government Division.

The committee considered its business.

At 6:35 p.m., the committee adjourned to the call of the Chair.

ATTEST:

OTTAWA, Wednesday, October 30, 2002
(4)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met at 4:10 p.m. this day, in room 505, Victoria Building, the Deputy Chair, the Honourable Senator Tkachuk, presiding.

Members of the committee present: The Honourable Senators Angus, Cordy, Fitzpatrick, Kelleher, P.C., Kroft, Prud'homme, P.C., Setlakwe, Taylor and Tkachuk (9).

Other senators present: The Honourable Senators Di Nino and Kenny (3).

In attendance: From the Parliamentary Research Branch, Library of Parliament: Mr. Alexandre Laurin, Researcher, Economic Division and Mr. Gérald M. Lafrenière, Researcher, Law and Government Division.

Also in attendance: The official reporters of the Senate.

Pursuant to the Order of Reference adopted by the Senate on Wednesday, October 23, 2002, the Committee continued its examination into the present state of the domestic and international financial system with particular emphasis on the Canadian perspective to the Enron collapse. (See Issue No. 1, October 23-24, 2002, for full text of the Order of Reference.)

WITNESSES:

From the Ontario Securities Commission:

Mr. David A. Brown, Q.C., Chair;

Mr. John A. Carchrae, CA, Chief Accountant.

From the Canadian Institute of Chartered Accountants:

Mr. David Smith, FCA, President & CEO.

From the Office of the Superintendent of Financial Institutions:

Mr. Nick Le Pan, Superintendent.

Mr. Brown made a statement and with the assistance of Mr. Carchrae answered questions.

Mr. Smith made a statement and answered questions.

Mr. Le Pan made a statement and answered questions.

At 7:10 p.m., the committee adjourned to the call of the Chair.

ATTEST:

OTTAWA, Thursday, October 31, 2002
(5)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met at 11:05 a.m. this day, in room 257, East Block, the Chair, the Honourable Senator Kolber, presiding.

Members of the committee present: The Honourable Senators Fitzpatrick, Kelleher, P.C., Kolber, Kroft, Prud'homme, P.C., Setlakwe and Taylor (7).

In attendance: From the Parliamentary Research Branch, Library of Parliament: Ms. June Dewetering, Acting Principal and Mr. Alexandre Laurin, Research Officer, Economic Division.

Also in attendance: The official reporters of the Senate.

Pursuant to the Order of Reference adopted by the Senate on Wednesday, October 23, 2002, the Committee continued its examination into the present state of the domestic and international financial system with particular emphasis on the Canadian perspective to the Enron collapse. (See Issue No. 1, October 23-24, 2002, for full text of the Order of Reference.)

WITNESS:

From the British Columbia Securities Commission (In Vancouver):

Mr. Douglas M. Hyndman, Chair.

Mr. Hyndman, by videoconference, made a statement and answered questions.

At 12:25 p.m., the committee adjourned to the call of the Chair.

ATTEST:

Denis Robert

Clerk of the Committee