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

Issue 13 - Minutes of Proceedings - March 8, 2012

OTTAWA, Thursday, March 8, 2012
(28)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day at 10:32 a.m., in room 9, Victoria Building, the chair, the Honourable Irving Gerstein, presiding.

Members of the committee present: The Honourable Senators Eaton, Gerstein, Greene, Harb, Hervieux-Payette, P.C., Massicotte, Moore, Oliver, Ringuette, Smith (Saurel), Stewart Olsen and Tkachuk (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:

Mouvement Desjardins:

Karine Bolduc, Certified Management Accountant and Director, Compliance and Anti-Money Laundering.

Credit Union Central of Canada:

Marc-André Pigeon, Director, Financial Services Sector;

Evelyne Olivier, Internal Audit and Administration Officer, Winnipeg Police Credit Union.

Canadian Bankers Association:

Bill Randle, Assistant General Counsel;

Stephen Harvey, Vice President, Chief Anti-money Laundering Officer, CIBC.

The chair made an opening statement.

Mr. Randle, Mr. Pigeon and Ms. Bolduc each made statements and, together with Ms. Olivier and Mr. Harvey, answered questions.

At 12:30 p.m., the committee adjourned to the call of the chair.

ATTEST:

Adam Thompson

Clerk of the Committee