Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce
Issue 15 - Minutes of Proceedings - March 29, 2012
OTTAWA, Thursday, March 29, 2012
(32)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met this day at 10:30 a.m., in room 9, Victoria Building, the acting chair, the Honourable Larry W. Smith, presiding.
Members of the committee present: The Honourable Senators Greene, Maltais, Massicotte, Moore, Ringuette, Smith (Saurel), Stewart Olsen and Tkachuk (8).
Other senator present: The Honourable Senator Baker, P.C. (1).
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, January 31, 2012, the committee continued its review of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (S.C. 2000, c. 17), pursuant to section 72 of the said Act. (For the complete text of the order of reference, see proceedings of the committee, Issue No. 9.)
WITNESSES:
MasterCard Canada Inc.:
Andrea Cotroneo, Vice-President, Canada Regional Counsel;
Richard McLaughlin, Senior Vice-President, Global Products and Solutions.
Western Union Financial Services (Canada), Inc.:
Derek McMillan, Director, Compliance (International).
Amex Bank of Canada:
Scott Driscoll, Vice President, Chief Compliance Officer and Chief Anti-Money Laundering Officer;
Wilf Gutzin, Vice-President and Senior Counsel.
Canadian Institute of Chartered Accountants:
Matthew McGuire, Chair, Anti-Money Laundering Committee.
Canadian Real Estate Association:
Gary Simonsen, Chief Executive Officer;
David Salvatore, Director, External Relations.
The acting chair made an opening statement.
Ms. Cotroneo, Mr. McMillan and Mr. Driscoll made statements and, together with Messrs. McLaughlin and Gutzin, answered questions.
At 11:32 a.m., the committee suspended.
At 11:36 a.m., the committee resumed.
The acting chair made a statement.
Messrs. McGuire and Simonsen made statements, and, together with Mr. Salvatore, answered questions.
At 12:22 p.m., the committee adjourned to the call of the chair.
ATTEST:
Adam Thompson
Clerk of the Committee