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

Issue 22 - Minutes of Proceedings - June 19, 2012

OTTAWA, Tuesday, June 19, 2012


The Standing Senate Committee on Banking, Trade and Commerce met this day at 2:15 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., MacDonald, Maltais, Massicotte, Moore, Ringuette, Smith (Saurel), Stewart Olsen, Tkachuk and Unger (13).

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, June 14, 2012, the committee began its examination of Bill C-25, An Act relating to pooled registered pension plans and making related amendments to other Acts.


Hon. Ted Menzies, P.C., M.P., Minister of State (Finance).


Department of Finance Canada:

Jeremy Rudin, Assistant Deputy Minister, Financial Sector Policy Branch;

Leah Anderson, Director, Financial Sector Division;

Lynn Hemmings, Senior Chief, Payments, Financial Sector Division;

Yasir Syed, Senior Project Leader, Payments and Pensions.

Canadian Life and Health Insurance Association Inc.:

Frank Swedlove, President;

Leslie Byrnes, Vice President, Distribution and Pensions.

Canadian Bankers Association:

Marion Wrobel, Vice-President, Policy and Operations.

The Canadian Chamber of Commerce:

Susanna Cluff-Clyburne, Director, Parliamentary Affairs.

The chair made an opening statement.

The minister of state made a statement and, together with Mr. Rudin, Ms. Anderson, Ms. Hemmings and Mr. Syed, answered questions.

At 3:13 p.m., the committee suspended.

At 3:15 p.m., the committee resumed.

The chair made a statement.

Mr. Swedlove, Mr. Wrobel and Ms. Cluff-Clyburne each made a statement, and together with Ms. Byrnes, answered questions.

At 3:57 p.m., the committee adjourned to the call of the chair.


Adam Thompson

Clerk of the Committee