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

Issue 19 - Minutes of Proceedings - May 30, 2012

OTTAWA, Wednesday, May 30, 2012


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 Gerstein, Greene, Harb, Hervieux-Payette, P.C., Maltais, Massicotte, Moore, Oliver, Ringuette, Smith (Saurel), Stewart Olsen and Tkachuk (12).

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 Thursday, May 3, 2012, the committee continued its examination of the subject-matter of those elements contained in Divisions 2, 10, 11, 22, 28, and 36 of Part 4 of Bill C- 38, An Act to implement certain provisions of the budget tabled in Parliament on March 29, 2012 and other measures. (For the complete text of the order of reference, see proceedings of the committee, Issue No. 18.)


As individuals:

Ian Lee, Assistant Professor, Sprott School of Business, Carleton University;

Jane Londerville, Associate Professor, Department of Marketing and Consumer Studies, University of Guelph (by video conference).

Canadian Life and Health Insurance Association:

Frank Zinatelli, Vice President and General Counsel.

As an individual:

Diane A. Urquhart, Independent Financial Analyst (by video conference).

The chair made an opening statement.

Mr. Lee and Ms. Londerville each made a statement and answered questions.

At 5:16 p.m., the committee suspended.

At 5:18 p.m., the committee resumed.

The chair made a statement.

Mr. Zinatelli and Ms. Urquhart each made a statement and answered questions.

At 6:02 p.m., the committee adjourned to the call of the chair.


Adam Thompson

Clerk of the Committee