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

Issue No. 53 - Minutes of Proceedings - March 21, 2019

OTTAWA, Thursday, March 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), Dagenais, Deacon (Nova Scotia), Klyne, Stewart Olsen, Tkachuk and Wallin (7).

In attendance: Adriane Yong and Brett Stuckey, 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, 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. (For complete text of the order of reference, see proceedings of the committee, Issue No. 51.)


As an individual:

Kirsten Thompson, Member, Advisory Committee on Open Banking, and Partner, Dentons Canada.

Financial Data and Technology Association (FDATA):

Steven Boms, Executive Director.

Electronic Transactions Association:

Scott Talbott, Senior Vice-President, Government Affairs.

Wealthsimple Financial Corp.:

Blair Wiley, General Counsel and Head of Regulatory Affairs.

Canadian Association of Mutual Insurance Companies:

Normand Lafrenière, President.

Interac Corp.:

Debbie Gamble, Chief Officer, Innovation Labs and New Ventures.

Canadian Credit Union Association:

Athana Mentzelopoulos, Vice President, Government Relations and Member Relations.

The chair made a statement.

Ms. Thompson, Mr. Boms, Mr. Talbott and Mr. Wiley each made a statement and answered questions.

At 11:44 a.m., the committee suspended.

At 11:49 a.m., the committee resumed.

Mr. Lafrenière, Ms. Gamble and Ms. Mentzelopoulous each made a statement and answered questions.

At 12:30 p.m., the committee adjourned to the call of the chair.


Lynn Gordon
Clerk of the Committee