FINA Committee Report
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Twelfth Report
Standing Committee on Finance (FINA)44th Parliament, 1st Session
Study
Merger of Royal Bank of Canada and HSBC Bank Canada| That the Standing Committee on Finance report the following to the House: given that; (a) after eight years of Justin Trudeau the Competition Bureau of Canada finds Canada’s competitive intensity is in decline, a measure that was reflected in all indicators measure by the bureau; (b) there already are very few financial institutions in the Canadian banking sector representing a lack of competition; (c) removing competition in the financial sector could raise banking fees for Canadians who already pay more for financial services due to an already uncompetitive financial sector; that the committee calls on the Minister of Finance to reject the merger of RBC and HSBC. |
| A copy of the relevant Minutes of Proceedings (Meeting No. 110) is tabled. |