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

Issue 22 - Minutes of Proceedings

OTTAWA, Thursday, June 4, 1998
(39)

[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 Angus, Callbeck, Hervieux-Payette P.C., Kelleher P.C., Kirby, Kolber, Meighen, Oliver, Stewart and Tkachuk (10).

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 IMASCO:

Mr. Brian Levitt, President; and

Mr. Peter McBride, Vice-President, Communications and Investor Relations.

From OPSEU Pension Trust:

Mr. Grant MacGillivray, Vice-Chairman; and

Ms. Colleen Parrish, Plan Manager.

From the Association de protection des épargnants et investisseurs du Québec:

Mr. Yves Michaud, President;

Ms Marie Rousseau, Vice-President;

Mr. Paul Lussier, Director; and

Mr. Richard Langlois, Economist and Author.

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. Levitt made an opening statement and then together with Mr. McBride answered questions.

Ms Parrish made an opening statement and then, along with Mr. MacGillivray, answered questions.

Mr. Michaud made an opening statement and then, along with other officials, answered questions.

At 1:55 p.m. the committee adjourned to the call of the Chair.

ATTEST:

Gary Levy

Clerk of the Committee