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

Issue 11 - Minutes of Proceedings - February 15, 2012

OTTAWA, Wednesday, February 15, 2012
(23)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day at 4:17 p.m., in room 9, Victoria Building, the chair, the Honourable Irving Gerstein, presiding.

Members of the committee present: The Honourable Senators Ataullahjan, Gerstein, Greene, Harb, Hervieux- Payette, P.C., Maltais, Massicotte, Moore, Oliver, Ringuette, Smith (Saurel) and Stratton (12).

In attendance: John Bulmer and Adriane Yong, Analysts, Parliamentary Information and Research Service, Library of Parliament.

Also in attendance: The official reporters of the Senate.

Pursuant to the order of reference adopted by the Senate on Tuesday, January 31, 2012, the committee continued its review of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (S.C. 2000, c. 17), pursuant to section 72 of the said Act. (For the complete text of the order of reference, see proceedings of the committee, Issue No. 9.)

WITNESSES:

Office of the Superintendent of Financial Institutions Canada:

Nicolas Burbidge, Senior Director of the Anti-Money Laundering and Compliance Division;

Alain Prévost, General Counsel in the Legal Services Division.

The chair made an opening statement.

Mr. Burbidge made a statement and, together with Mr. Prévost, answered questions.

At 5:45 p.m., the committee adjourned to the call of the chair.

ATTEST:

Adam Thompson

Clerk of the Committee