Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce
Issue No. 56 - Evidence - May 8, 2019
OTTAWA, Wednesday, May 8, 2019
The Standing Senate Committee on Banking, Trade and Commerce met this day at 4:14 p.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),
Duncan, Frum, Galvez, Marshall, Stewart Olsen, Tkachuk, Verner, P.C., Wallin and Wetston (12).
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, May 2, 2019, the committee began its
consideration of the subject matter of those elements contained in Divisions 1, 5 and 26 of Part 4, and in Subdivision A
of Division 2 of Part 4 of Bill C-97, An Act to implement certain provisions of the budget tabled in Parliament on
March 19, 2019 and other measures.
Department of Finance Canada:
Margaret Tepczynska, Director, Strategic Initiatives, Financial Institutions Division;
Mary O'Connor, Senior Advisor, Strategic Initiatives, Financial Institutions Division;
Julie Trepanier, Director, Payments Policy;
William Gibson, Analyst, Payments Policy;
Kathy Wyre, Acting Director, Pensions Policy;
Oliver Kanter, Economist, Pensions Policy.
Office of the Superintendent of Financial Institutions Canada:
Theresa Hinz, Managing Director, Legislative Policy, Interpretations and Compliance, Regulatory Affairs Division;
Isabelle Lepage, Manager, Legislative Policy, Interpretations and Compliance.
Canadian Credit Union Association:
Jessica Brandon-Jepp, Advocacy and Government Relations Advisor.
Anne Butler, Chief Legal Officer and Head of Research and Policy.
Innovation, Science and Economic Development Canada:
Mark Schaan, Director General, Marketplace Framework Policy Branch;
Darryl Patterson, Director, Corporate, Insolvency and Competition Directorate, Marketplace Framework Policy
Ian Disend, Senior Policy Analyst, Marketplace Framework Policy Branch;
Paul Morrison, Manager, Policy Development (Insolvency), Marketplace Framework Policy Branch.
Department of Justice Canada:
Christopher Meszaros, Senior Counsel.
The chair made a statement.
Ms. Tepczynska, Ms. Hinz and Ms. Brandon-Jepp made statements and, together with Ms. O'Connor, answered
At 4:42 p.m., the committee suspended.
At 4:44 p.m., the committee resumed.
Ms. Trepanier and Ms. Butler made statements and, together with Mr. Gibson, answered questions.
At 5:28 p.m., the committee suspended.
At 5:30 p.m., the committee resumed.
Mr. Schaan and Ms. Wyre made statements answered questions.
At 5:42 p.m., the committee suspended.
At 5:43 p.m., the committee resumed.
Mr. Schaan and Ms. Wyre made statements and, together with Mr. Patterson and Mr. Morrison, answered
At 6:12 p.m., the committee suspended.
At 6:13 p.m., the committee resumed.
Mr. Meszaros made a statement and answered questions.
At 6:28 p.m., the committee adjourned to the call of the chair.
Clerk of the Committee