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

Issue 30 - Minutes of Proceedings - May 26, 2015

OTTAWA, Tuesday, May 26, 2015
(65)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day at 4:16 p.m., in room 9, Victoria Building, the chair, the Honourable Irving Gerstein, presiding.

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

In attendance: Adriane Yong and Michaël Lambert-Racine, Analysts, Parliamentary Information and Research Services, Library of Parliament.

Also present: The official reporters of the Senate.

Pursuant to the order of reference adopted by the Senate on Thursday, May 14, 2015, the committee began its examination of the subject matter of those elements contained in Divisions 14 and 19 of Part 3 of Bill C-59, An Act to implement certain provisions of the budget tabled in Parliament on April 21, 2015 and other measures.

WITNESSES:

Department of Finance Canada:

Lisa Pezzack, Director, Financial Systems Division, Financial Sector Policy Branch;

Heather Kay, Senior Economist, Financial Systems Division, Financial Sector Policy Branch.

Financial Transactions and Reports Analysis Centre of Canada (FINTRAC):

Dan Lambert, Manager, Financial Analysis and Disclosures.

Canadian Securities Administrators:

Jean-François Fortin, Executive Director, Enforcement Branch, Autorités des marchés financiers;

Marianna Ferraro, Lawyer, Legal Branch - Montreal, Autorités des marchés financiers.

Ms. Pezzack made a statement and, together with Ms. Kay and Mr. Lambert, answered questions.

At 4:59 p.m., the committee suspended.

At 5:01 p.m., the committee resumed.

Mr. Fortin made a statement and, together with Ms. Ferraro, answered questions.

At 5:33 p.m., the committee adjourned to the call of the chair.

ATTEST:

Keli Hogan

Clerk of the Committee