Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce
Issue 18 - Minutes of Proceedings - November 20, 2014
OTTAWA, Thursday, November 20, 2014
(43)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met this day at 10:30 a.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, Mockler, Ringuette, Tannas and Tkachuk (11).
In attendance: Brett Stuckey and Adriane Yong, 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, October 30, 2014, the committee continued its examination of the subject matter of those elements contained in Divisions 9, 12, 18, 22, 26, and 27 of Part 4 of Bill C-43, A second Act to implement certain provisions of the budget tabled in Parliament on February 11, 2014 and other measures.
WITNESSES:
Industry Canada:
Jenifer Aitken, Director General, Investment Review Sector;
Paul Halucha, Director General, Strategic Policy Branch.
Business Development Bank of Canada:
Michel Bergeron, Senior Vice President, Marketing and Public Affairs;
Mathieu Belleville, Assistant Vice President, Legal Affairs.
Department of Finance Canada:
Sophie Amberg, Senior Project Leader;
Lisa Pezzack, Director, Financial Sector Policy Branch;
Glenn Campbell, Director, Financial Sector Policy Branch;
Eleanor Ryan, Senior Chief, Financial Sector Policy Branch;
Erin O'Brien, Chief, Financial Sector Policy Branch.
Bank of Canada:
Ron Morrow, Chief, Financial Stability;
Robert Turnbull, Special Counsel, Financial System.
Credit Union Central of Canada:
Martha Durdin, President and CEO;
Marc-André Pigeon, Director, Financial Sector Policy.
Atlantic Central:
Michael Leonard, President and CEO (by video conference).
Vancity Credit Union:
Cristobal (Chris) Dobrzanski, Chief Economist.
Canadian Payments Association:
Doug Kreviazuk, Vice President, Next Generation Clearing and Settlement;
Deborah Wilson, Senior Legal Counsel;
Geoffroi Montpetit, Director, Public Affairs.
Canadian Bar Association:
Omar Wakil, Chair of the Foreign Investment Review Committee, Competition Law Section;
Noah Arshinoff, Staff Lawyer, Law Reform.
Ms. Aitken made a statement and, together with Mr. Halucha, answered questions.
At 11 a.m., the committee suspended.
At 11:01 a.m., the committee resumed.
Mr. Bergeron made a statement and, together with Mr. Belleville, answered questions.
At 11:17 a.m., the committee suspended.
At 11:18 a.m., the committee resumed.
Ms. Amberg made a statement and, together with Ms. Pezzack, answered questions.
At 11:30 a.m., the committee suspended.
At 11:32 a.m., the committee resumed.
Mr. Campbell made a statement and, together with Ms. Ryan, Mr. Morrow and Mr. Turnbull, answered questions.
At 11:57 a.m., the Honourable Senator Mockler replaced the Honourable Senator Tkachuk as a member of the committee.
At 12:09 p.m., the committee suspended.
At 12:10 p.m., the committee resumed.
Ms. O'Brien made a statement and, together with Ms. Pezzack, answered questions.
At 12:30 p.m., the committee suspended.
At 12:45 p.m., the committee resumed.
Ms. Durdin made a statement and, together with Mr. Pigeon, answered questions.
Mr. Leonard made a statement and answered questions.
Mr. Dobrzanski made a statement and answered questions.
At 1:20 p.m., the committee suspended.
At 1:25 p.m., the committee resumed.
Mr. Kreviazuk made a statement and, together with Ms. Wilson and Mr. Montpetit, answered questions.
At 1:31 p.m., the Honourable Senator Tkachuk replaced the Honourable Senator Mockler as a member of the committee.
At 1:45 p.m., the committee suspended.
At 1:48 p.m., the committee resumed.
Mr. Wakil and Mr. Arshinoff each made a statement and answered questions.
At 2:02 p.m., the committee adjourned to the call of the chair.
ATTEST:
Barbara Reynolds
Clerk of the Committee