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FINA Committee Meeting

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MINUTES OF PROCEEDINGS

Meeting No. 48

Thursday, November 2, 2006

The Standing Committee on Finance met in a televised session at 11:14 a.m. this day, in Room 237-C, Centre Block, the Chair, Brian Pallister, presiding.

Members of the Committee present: Diane Ablonczy, Dean Del Mastro, Rick Dykstra, Hon. John McCallum, Hon. John McKay, Massimo Pacetti, Brian Pallister, Pierre A. Paquette, Michael Savage, Thierry St-Cyr, Mike Wallace and Judy Wasylycia-Leis.

In attendance: Library of Parliament: June Dewetering, Principal . Standing Committee on Finance: Shaila Anwar, Co-Clerk of the Committee.

Witnesses: Canadian Bankers Association: Warren Law, Senior Vice-President, Corporate Operations and General Counsel; Ron King, Chief anti-laundering laundering, Scotiabank. Office of the Auditor General of Canada: Douglas Timmins, Assistant Auditor General. Canada Revenue Agency: Elizabeth Tromp, Director General, Charities Directorate, Legislative Policy and Regulatory Affairs Branch; Donna Walsh, Director, Review and Analysis Division, Charities Directorate, Legislative Policy and Regulatory Affairs Branch; Denis Meunier, Director General, Enforcement and Disclosures Directorate, Compliance Programs Branch. Western Union: Brian Fox, Regional Vice-President Canada. Canadian Life and Health Insurance Association Inc.: Jean-Pierre Bernier, General Counsel. Office of the Superintendent of Financial Institutions Canada: Nicolas Burbidge, Senior Director, Compliance Division. Federation of Law Societies of Canada: James Varro, Policy Counsel, Anti-Money Laundering Committee. Canadian Bar Association: Ron Skolrood, Chair, Constitutional and Human Rights Law Section; Tamra L. Thomson, Director, Legislation and Law Reform. Investment Dealers Association of Canada: Lawrence N. Boyce, Vice-President, Sales Compliance and Registration. Senate: Hon. Jerahmiel S. Grafstein, Chairman, Banking, Trade and Commerce Committee.

Pursuant to the Order of Reference of Tuesday, October 24, 2006, the Committee resumed consideration of Bill C-25, An Act to amend the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and the Income Tax Act and to make a consequential amendment to another Act.

The witnesses made statements and answered questions.

At 12:27 p.m., the sitting was suspended.

At 12:37 p.m., the sitting resumed.

AT 12:48 p.m., Massimo Pacetti took the Chair.

At 1:04 p.m., Brian Pallister took the Chair.

At 1:48 p.m., the Committee adjourned to the call of the Chair.

Elizabeth B. Kingston
Clerk of the Committee

2006/11/03 11:37 a.m.