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

First Session, Forty-first Parliament, 2011

Chair: The Honourable MICHAEL A. MEIGHEN

Wednesday, December 7, 2011
Thursday, December 8, 2011

Issue No. 7

First and second meetings on:

Bill S-5, An Act to amend the law governing financial institutions and to provide for related and consequential matters

APPEARING

The Honourable James M. Flaherty, P.C., M.P., Minister of Finance

WITNESSES

Wednesday, December 7, 2011

Department of Finance Canada:

Jeremy Rudin, Assistant Deputy Minister, Financial Sector Policy Branch;

Jane Pearse, Director, Financial Institutions Division;

Eleanor Ryan, Senior Chief, Financial Institutions Division;

Leah Anderson, Director, Financial Sector Division;

Joseph de Pencier, Senior Counsel, General Legal Services;

James Wu, Chief, Financial Institutions Analysis;

Beth Woloski, Chief, Current Analysis;

Jean-François Girard, Acting Chief, Financial Stability.

Thursday, December 8, 2011

Credit Union Central of Canada:

Brigitte Goulard, Vice-President, Policy;

Brenda O'Connor, Vice President and General Counsel.

Canadian Life and Health Insurance Association Inc.:

Frank Swedlove, President;

Frank Zinatelli, Vice President and General Counsel.

Financial Consumer Agency of Canada:

Ursula Menke, Commissioner;

Lucie Tedesco, Deputy Commissioner.

Office of the Superintendent of Financial Institutions Canada:

Patty Evanoff, Senior Director, Legislation and Approvals Division;

Philipe Sarrazin, Managing Director, Legislation and Policy Initiatives.

MEMBERS OF THE COMMITTEE

The Honourable Michael A. Meighen, Chair

The Honourable Céline Hervieux-Payette, P.C., Deputy Chair

and

The Honourable Senators:

* Cowan (or Tardif), Gerstein, Greene, Harb, * LeBreton, P.C. (or Carignan), Massicotte, Moore, Oliver, Ringuette, Smith (Saurel), Stewart Olsen, Tkachuk

*Ex officio members

(Quorum 4)

Changes in membership of the committee:

Pursuant to rule 85(4), membership of the committee was amended as follows:

The Honourable Senator Tkachuk replaced the Honourable Senator Di Nino (December 8, 2011).

The Honourable Senator Massicotte replaced the Honourable Senator Losier-Cool (December 7, 2011).

The Honourable Senator Losier-Cool replaced the Honourable Senator Massicotte (December 7, 2011).

The Honourable Senator Stewart Olsen replaced the Honourable Senator Mockler (December 7, 2011).

The Honourable Senator Di Nino replaced the Honourable Senator Tkachuk (December 6, 2011).

The Honourable Senator Mockler replaced the Honourable Senator Stewart Olsen (December 6, 2011).

Banking, Commerce and the Economy