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

Second Session Thirty-fifth Parliament, 1996

Chairman: The Honourable MICHAEL KIRBY

Wednesday, October 2, 1996

Issue No. 10

Twelfth and Thirteenth meetings on: Examination of the present state of the financial system in Canada

WITNESSES:

Morning sitting:

From the Insurance Bureau of Canada:

Mr. George Anderson, President; and

Mr. Alex Kennedy, Vicd-President, General Counsel and Secretary.

From the Canadian Institute of Chartered Accountants:

Mr. Graeme Rutledge, Chair, CICA Financial Institutions Reform Study Group; and

Ms Diane R. Hillier, Director, Auditing Standards.

From the Investment Dealers Association of Canada:

Mr. Andrew G. Scace, Vice-President and Director, RBC Dominion Securities Inc.;

Mr. Peter K. Marchant, Vice-President and Director, CIBC Wood Gundy Inc.; and

Mr. Ian C. Russell, Vice-President, Capital Markets, Investment Dealers Association of Canada.

Afternoon sitting:

From the Canadian Federation of Independent Business:

Ms Catherine Swift, President; and

Mr. Garth White, Vicd-President, National Affairs, Research

From the Canadian Life & Health Insurance Association Inc.:

Mr. Mark Daniels, President; and

Mr. Bob Astley, President and CEO, Mutual Group.

From Beacon Securities Limited:

Mr. Lonsdale W. Holland, President.

From Independent Investment Dealers:

Mr. Robert Schultz, Chairman and CEO, Midland Walwyn Capital Inc.;

Mr. Peter Bailey, CEO, Gordon Capital Corporation; and

Mr. Lorie Waisberg, Partner, Goodman Phillips and Vineberg.

From the Canadian Fraternal Association:

Mr. Richard May, Director of Canadian Fraternal Association and Chairman of the CFA Legislative Committee; and

Mr. Ralf Hensel, Member of the CFA Legislative Committee.

From the Congress Financial Corporation Canada:

Mr. William R. Davis, President and President of Congress Financial Corporation;

Mr. Albert Mandia, President of Cashflex L.P. and Cashflex Inc.;

Ms Ruth Brader, in-house Counsel to CoreStates Financial Corp.; and

Ms Jean Anderson, of McMillan Binch.

From the Consumers' Association of Canada:

Dr. Robert Kerton, Chair, Financial Services Committee and Professor of Economics, Department of Economics, University of Waterloo; and

Ms Marnie McCall, Director, Policy Research.

From Democracy Watch:

Mr. Duff Conacher, Coordinator.

From the Service d'aide au consommateur:

Ms Madeleine Plamondon.

MEMBERS OF THE COMMITTEE

The Honourable Michael Kirby, Chairman

The Honourable W. David Angus, Deputy Chairman

and

The Honourable Senators:

Austin, P.C., *Fairbairn, P.C. (or Graham), Hervieux-Payette, P.C., Kelleher, P.C., Kenny, Kolber, *Lynch-Staunton (or Berntson), Meighen, Perrault, P.C., St. Germain, P.C., Simard, Stewart

* Ex Officio Members

(Quorum 4)