Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce
Issue 10 - Minutes of Proceedings
OTTAWA, Wednesday, November 1, 2006
(20)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met at 4:05 p.m., this day, in room 9, Victoria Building, the Chair, the Honourable Jerahmiel S. Grafstein, presiding.
Members of the committee present: The Honourable Senators Angus, Goldstein, Grafstein, Harb, Hervieux-Payette, P.C., Massicotte, Meighen, Moore and Tkachuk (9).
In attendance: June Dewetering, Research Officers, Library of Parliament.
Also in attendance: The official reporters of the Senate.
Pursuant to the Order of Reference adopted by the Senate on May 2, 2006, the committee continued its study of the present state of the domestic and international financial system. (For the complete text of Order of Reference see proceedings of the committee, Issue No. 2.)
Topic: Study on Hedge funds.
WITNESSES:
Autorité des marchés financiers:
Jean St-Gelais, President and CEO.
Ontario Securities Commission:
David Wilson, Chair.
Department of Finance Canada:
Serge Dupont, Assistant Deputy Minister;
Jeremy Rudin, General Director.
At 4:10 p.m., Mr. Wilson and Mr. St-Gelais each made a statement and answered questions.
At 5:40 p.m., Mr. Dupont made a statement and together, with the other witness, answered questions.
At 6:00 p.m., the committee adjourned to the call of the Chair.
ATTEST:
OTTAWA, Thursday, November 2, 2006
(21)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met at 10:45 a.m., this day, in room 9, Victoria Building, the Chair, the Honourable Jerahmiel S. Grafstein, presiding.
Members of the committee present: The Honourable Senators Angus, Dawson, Goldstein, Grafstein, Harb, Massicotte, Meighen and Tkachuk (8).
In attendance: Sheena Starky, Research Officers, Library of Parliament.
Also in attendance: The official reporters of the Senate.
Pursuant to the Order of Reference adopted by the Senate on May 2, 2006, the committee continued its study of the present state of the domestic and international financial system. (For the complete text of Order of Reference see proceedings of the committee, Issue No. 2.)
Topic: Study on hedge funds.
WITNESSES:
Montreal Exchange:
Léon Bitton, Vice-President, Research and Development;
Jacques Tanguay, Vice-President, Regulatory Division.
Front Street Capital:
Gary P. Selke, President.
At 10:55 p.m., Mr. Bitton and Mr. Tanguay each made a statement and answered questions.
At 12:15 p.m., Mr. Selke made a statement and answered questions.
At 12:45 p.m., the Honourable Senator Goldstein took the Chair.
At 1:15 p.m., the committee adjourned to the call of the Chair.
ATTEST:
OTTAWA, Wednesday, November 8, 2006
(22)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met at 4:10 p.m., this day, in room 9, Victoria Building, the Chair, the Honourable Jerahmiel S. Grafstein, presiding.
Members of the committee present: The Honourable Senators Angus, Biron, Goldstein, Grafstein, Gustafson, Harb, Hervieux-Payette, P.C., Massicotte and Moore (9).
In attendance: June Dewetering, Research Officer, Library of Parliament.
Also in attendance: The official reporters of the Senate.
Pursuant to the Order of Reference adopted by the Senate on May 2, 2006, the committee continued its study of the present state of the domestic and international financial system. (For the complete text of Order of Reference see proceedings of the committee, Issue No. 2.)
Topic: Study on Hedge funds.
WITNESSES:
BluMont Capital:
Stephen J. Kangas, President.
Hillsdale Investment Management Inc.:
Christopher Guthrie, President;
Arun Kaul, Chief Operating Officer.
Task Force to Modernize Securities Legislation in Canada:
Colleen Moorehead, President and CEO, Nexient Learning Inc. and Representative of the Task Force.
At 4:10 p.m., Mr. Guthrie, Mr. Kaul and Mr. Kangas each made a statement and answered questions.
At 5:34 p.m., Ms. Moorehead made a statement and answered questions.
At 6:05 p.m., the committee adjourned to the call of the Chair.
ATTEST:
Line Gravel
Clerk of the Committee