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

Issue 19 - Minutes of Proceedings

OTTAWA, Wednesday, May 13, 1998
(33)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day at 6:05 p.m. in Room 356-S, Centre Block, the Chairman, the Honourable Michael Kirby, presiding.

Members of the committee present: The Honourable Senators Austin, P.C., Callbeck, Di Nino, Kelleher, P.C., Kirby, Kolber, Stewart and Tkachuk (8).

In attendance: From the Parliamentary Research Branch, Library of Parliament: Mr. Gerry Goldstein, Director, Economics Division.

Also present: The official reporters of the Senate.

WITNESSES:

From Barclays Global Investor's Canada Ltd:

Mr. Gerry Rocchi, President; and

Ms Kathleen Taylor, Vice-President.

From Canadian Pacific:

Mr. Michael Grandin, Executive Vice-President and CFO.

Pursuant to the Order of Reference adopted by the Senate on Wednesday, October 22, 1997, the committee resumed its examination into the state of the financial system in Canada and in particular its study of institutional investors. (See Issue No. 1, October 23, 1997, for the full text of the Order of Reference .)

Mr. Rocchi made an opening statement and then, together with Ms Taylor, answered questions.

Mr. Grandin made an opening statement and then answered questions.

At 8:20 p.m. the committee adjourned to the call of the Chair.

ATTEST:

OTTAWA, Thursday, May 14, 1998
(34)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day at 11:00 a.m. in Room 505, Victoria Building, the Chairman, the Honourable Michael Kirby, presiding.

Members of the committee present: The Honourable Senators Callbeck, Di Nino, Hervieux-Payette, P.C., Kelleher, P.C., Kenny, Kirby, Stewart and Tkachuk (8).

In attendance: From the Parliamentary Research Branch, Library of Parliament: Mr. Gerry Goldstein, Director, Economics Division and Ms Margaret Smith, Research Officer, Law and Government Division.

Also present: The official reporters of the Senate.

WITNESSES:

From the Ontario Securities Commission:

Ms. Glorianne Stromberg, Commissioner.

From Sceptre Investments:

Mr. Douglas Grant, Chairman.

Pursuant to the Order of Reference adopted by the Senate on Wednesday, October 22, 1997, the committee resumed its examination into the state of the financial system in Canada and in particular its study of institutional investors. (See Issue No. 1, October 23, 1997, for the full text of the Order of Reference .)

Ms. Stromberg made an opening statement and then answered questions.

Mr. Grant made an opening statement and then answered questions.

At 1:25 p.m., the committee adjourned to the call of the Chair.

ATTEST:

Gary Levy

Clerk of the Committee