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

Issue No. 35 - Evidence - February 28, 2018

OTTAWA, Wednesday, February 28, 2018


The Standing Senate Committee on Banking, Trade and Commerce met this day at 4:30 p.m., in room 9, Victoria Building, the chair, the Honourable Douglas Black, presiding.

Members of the committee present: The Honourable Senators Black (Alberta), Dagenais, Marwah, Stewart Olsen, Tannas and Wetston (6).

In attendance: Chantal Cardinal, Procedural Clerk, Committees Directorate; Adriane Yong, Analyst, 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 Tuesday, October 17, 2017, the committee continued its study on issues and concerns pertaining to cyber security and cyber fraud. (For the complete text of the order of reference, see proceedings of the committee, Issue No. 26.)


Bank of Canada:

Ron Morrow, Managing Director, Financial Stability Department.

Department of Finance Canada:

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

Office of the Superintendent of Financial Institutions Canada:

Judy Cameron, Senior Director, Legislation, Approvals and Strategic Policy;

Theresa Hinz, Director, Approvals and Precedents.

Payments Canada:

Justin Ferrabee, Chief Operating Officer;

Martin Kyle, Chief Information Security Officer.

The chair made a statement.

Ms. Ryan, Mr. Morrow and Ms. Cameron each made a statement and, together with Ms. Hinz, answered questions.

At 5:29 p.m., the committee suspended.

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

The chair made a statement.

Mr. Ferrabee made a statement and, together with Mr. Kyle, answered questions.

At 6:05 p.m., the committee adjourned to the call of the chair.


Adam Thompson
Acting Clerk of the Committee