Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce
Issue No. 51 - Minutes of Proceedings - February 21, 2019
OTTAWA, Thursday, February 21, 2019
The Standing Senate Committee on Banking, Trade and Commerce met this day at 10:30 a.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), Campbell, Dagenais, Frum, Griffin,
Klyne, Marshall, Stewart Olsen, Tkachuk, Verner, P.C. and Wetston (11).
In attendance: Adriane Yong and Brett Stuckey, Analysts, Parliamentary Information and Research Services,
Library of Parliament; Stav Nitka, Communications Officer, Senate Communications Directorate.
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
continued 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.
Office of the Privacy Commissioner of Canada:
Gregory Smolynec, Deputy Commissioner, Policy and Promotion Sector;
Arun Bauri, Strategic Policy and Research Analyst, Policy, Research and Parliamentary Affairs Directorate.
Justin Ferrabee, Chief Operating Officer.
Competition Bureau Canada:
Leila Wright, Associate Deputy Commissioner, Policy, Planning and Advocacy Directorate;
Greg Lang, Major Case Director and Strategic Policy Advisor, Competition Advocacy Unit.
The chair made a statement.
Mr. Smolynec, Mr. Ferrabee and Ms. Wright each made a statement and answered questions.
At 11:46 a.m., the committee suspended.
At 11:52 a.m., the committee, pursuant to rule 12-16(1)(d), the committee resumed in camera to consider a draft
Pursuant to the order of reference adopted by the Senate on Tuesday, October 17, 2017, the committee continued its
examination of issues pertaining to the management of systemic risk in the financial system, domestically and
internationally. (For complete text of the order of reference, see proceedings of the committee, Issue No. 46.)
It was agreed that the committee allow the transcription of the in camera portion of the meeting, that one copy be
kept with the clerk of the committee for consultation by committee members present and/or by the committee analysts,
and that the transcript be destroyed by the clerk when authorized to do so by the Subcommittee on Agenda and
Procedure, but no later than at the end of this parliamentary session.
It was agreed that the draft report, as amended, be adopted; and that the chair and deputy chair be empowered to
approve the final version of the report, taking into consideration this meeting's discussions, and with any necessary
editorial, grammatical and translation changes required.
It was agreed that the chair be authorized to table the report in the Senate.
At 12:25 p.m., pursuant to rule 12-16(1)(d), the committee continued in camera to consider a draft agenda (future
At 12:37 p.m., the committee adjourned to the call of the chair.