BANC - Standing Committee

Banking, Commerce and the Economy

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41-2 41st Parliament, 2nd Session (October 16, 2013 - August 2, 2015)
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Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce

Issue 11 - Minutes of Proceedings - May 14, 2014

OTTAWA, Wednesday, May 14, 2014
(26)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day at 4:15 p.m., in room 9, Victoria Building, the chair, the Honourable Irving Gerstein, presiding.

Members of the committee present: The Honourable Senators Bellemare, Black, Gerstein, Greene, Hervieux-Payette, P.C., Maltais, Moore, Ngo, Ringuette and Tkachuk (10).

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

Also present: The official reporters of the Senate.

Pursuant to the order of reference adopted by the Senate on Wednesday, April 9, 2014, the committee continued its examination of the subject-matter of those elements contained in Parts 2, 3 and 4 and Divisions 2, 3, 4, 8, 13, 14, 19, 22, 24 and 25 of Part 6 of Bill C-31, An Act to implement certain provisions of the budget tabled in Parliament on February 11, 2014 and other measures. (For complete text of the order of reference, see proceedings of the committee, Issue No. 9.)

WITNESSES:

Canadian Bankers Association:

Marina Mandal, Senior Legal Counsel;

Kenneth Thorlakson, Vice-President and Associate General Counsel, Scotia Bank.

Insurance Brokers Association of Canada:

Steve Masnyk, Manager, Public Affairs.

Canadian Association of Mutual Insurance Companies:

Normand Lafrenière, President.

The Co-operators:

Frank Lowery, Senior Vice President, General Counsel and Secretary.

Economical Insurance:

Karen Gavan, President and CEO.

The chair made an opening statement.

Ms. Mandal made a statement and, together with Mr. Thorlakson, answered questions.

At 5:10 p.m., the committee suspended.

At 5:13 p.m., the committee resumed.

Mr. Masnyk made a statement and answered questions.

Mr. Lafrenière made a statement and answered questions.

Mr. Lowery made a statement and answered questions.

Ms. Gavan made a statement and answered questions.

At 6:16 p.m., the committee adjourned to the call of the chair.

ATTEST:

Barbara Reynolds

Clerk of the Committee