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

Issue 10 - Minutes of Proceedings - May 7, 2014

OTTAWA, Wednesday, May 7, 2014
(24)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day, at 4:17 p.m., in room 9, Victoria Building, the chair, the Honourable Irving Gerstein, presiding.

Members of the committee present: The Honourable Senators Bellemare, Black, Gerstein, Greene, Hervieux-Payette, P.C., Maltais, Massicotte, Ngo, Ringuette and Tkachuk (10).

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

Also present: The official reporters of the Senate.

Pursuant to the order of reference adopted by the Senate on Wednesday, April 9, 2014, the committee continued its examination of the subject-matter of those elements contained in Parts 2, 3 and 4 and Divisions 2, 3, 4, 8, 13, 14, 19, 22, 24 and 25 of Part 6 of Bill C-31, An Act to implement certain provisions of the budget tabled in Parliament on February 11, 2014 and other measures. (For complete text of the order of reference, see proceedings of the committee, Issue No. 9.)

WITNESSES:

Department of Finance Canada:

David Murchison, Director, Financial Sector;

Rachel Grasham, Chief, Financial Sector Division.

Financial Transactions and Reports Analysis Centre of Canada:

Darlene Boileau, Deputy Director, Strategic Policy and Public Affairs.

Canada Border Services Agency:

Colette Cibula, Director, Recourse Program Management, Recourse Directorate.

Insurance Bureau of Canada:

Garry Robertson, CFE, National Director, Investigative Services.

Insurance Brokers Association of Canada:

Steve Masnyk, Manager, Public Affairs.

Chartered Professional Accountants of Canada:

Matthew McGuire, Chair, Anti-Money Laundering Committee.

Canadian Life and Health Insurance Association:

Frank Zinatelli, Vice President and General Counsel.

The chair made an opening statement.

Mr. Murchison made a statement and, together with Ms. Grasham, Ms. Boileau and Ms. Cibula, answered questions.

At 5:15 p.m., the committee suspended.

At 5:17 p.m., the committee resumed.

Mr. Robertson made a statement and answered questions.

Mr. Masnyk made a statement and answered questions.

Mr. McGuire made a statement and answered questions.

Mr. Zinatelli made a statement and answered questions.

At 6:15 p.m., the committee adjourned to the call of the chair.

ATTEST:

Barbara Reynolds

Clerk of the Committee