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

Issue 5 - Minutes of Proceedings - November 24, 2011

OTTAWA, Thursday, November 24, 2011
(13)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day at 10:36 a.m., in room 9, Victoria Building, the deputy chair, the Honourable Céline Hervieux-Payette, P.C., presiding.

Members of the committee present: The Honourable Senators Gerstein, Harb, Hervieux-Payette, P.C., Massicotte, Meighen, Moore, Oliver, Ringuette, Smith (Saurel) and Tkachuk (10).

In attendance: John Bulmer and Adriane Yong, Analysts, Parliamentary Information and Research Service, Library of Parliament.

Also in attendance: The official reporters of the Senate.

Pursuant to the order of reference adopted by the Senate on Tuesday, June 21, 2011, the committee continued its examination of the present state of the domestic and international financial system. (For the complete text of the order of reference, see proceedings of the committee, Issue no. 1.)

WITNESSES:

OMERS Ventures:

John Ruffolo, Chief Executive Officer.

Communitech:

Iain Klugman, President and CEO.

As an individual:

James Brander, Professor, Strategy and Business Economics Division, Sauder School of Business, University of British Columbia (by videoconference).

The deputy chair made an opening statement.

Mr. Ruffolo made a statement and answered questions.

At 11:44 a.m., the committee suspended.

At 11:47 a.m., the committee resumed, the chair, the Honourable Michael A. Meighen, presiding.

Mr. Klugman and Mr. Brander each made a statement and, together, answered questions.

At 12:41 p.m., the committee adjourned to the call of the chair.

ATTEST:

Adam Thompson

Clerk of the Committee