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

Issue No. 51 - Minutes of Proceedings - February 20, 2019

OTTAWA, Wednesday, February 20, 2019
(125)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day at 4:15 p.m., in room B30, Senate of Canada Building, the chair, the Honourable Douglas Black, presiding.

Members of the committee present: The Honourable Senators Black (Alberta), Dagenais, Duffy, Frum, Griffin, Klyne, Marshall, Martin, Stewart Olsen, Tkachuk, Verner, P.C. and Wetston (12).

Other senator present: The Honourable Senator Busson (1).

In attendance: Adriane Yong and Brett Stuckey, 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, September 27, 2018, the committee began its examination of the potential benefits and challenges of open banking for Canadian financial services consumers, with specific focus on the federal government's regulatory role.

WITNESSES:

As an individual:

Christopher C. Nicholls, Professor and W. Geoff Beattie Chair in Corporate Law, Faculty of Law, The University of Western Ontario.

Equitable Bank:

Dan Dickinson, Senior Vice President and Chief Digital Officer.

Department of Finance Canada:

Annette Ryan, Associate Assistant Deputy Minister, Financial Sector Policy Branch;

Julien Brazeau, Senior Director, Strategy and Coordination, Financial Institutions Division, Financial Sector Policy Branch.

Bank of Canada:

Grahame Johnson, Managing Director, Financial Stability Department.

The chair made a statement.

Mr. Nicholls and Mr. Dickinson each made a statement and answered questions.

At 5:16 p.m., the Honourable Senator Tkachuk replaced the Honourable Senator Martin.

At 5:32 p.m., the committee suspended.

At 5:35 p.m., the committee resumed.

Ms. Ryan, Mr. Brazeau and Mr. Johnson each made a statement and answered questions.

At 6:32 p.m., the committee adjourned to the call of the chair.

ATTEST:

Lynn Gordon
Clerk of the Committee