FINA Committee Meeting

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MINUTES OF PROCEEDINGS

Meeting No. 47

Thursday, March 8, 2012

The Standing Committee on Finance met in a televised session at 3:31 p.m. this day, in Room 237-C, Centre Block, the Chair, James Rajotte, presiding.

Members of the Committee present: Mark Adler, Hon. Scott Brison, Robert Chisholm, Alain Giguère, Shelly Glover, Randy Hoback, Brian Jean, Peter Julian, Hoang Mai, Cathy McLeod, James Rajotte and Dave Van Kesteren.

Acting Members present: Harold Albrecht for Brian Jean and Dan Harris for Peter Julian.

In attendance: Library of Parliament: Mark Mahabir, Analyst ; Brett Stuckey, Analyst.

Appearing: Hon. Ted Menzies, Minister of State (Finance).

Witnesses: Department of Finance: Jeremy Rudin, Assistant Deputy Minister, Financial Sector Policy Branch; Jane Pearse, Director, Financial Institutions Division; Leah Anderson, Director, Financial Sector Division, Financial Sector Policy Branch; Eleanor Ryan, Senior Chief, Financial Sector Policy Branch; Joseph de Pencier, Senior Counsel, General Legal Services. Canadian Bankers Association: Terry Campbell, President and Chief Executive Officer. Canadian Life and Health Insurance Association Inc.: Frank Swedlove, President; Frank Zinatelli, Vice President, General Counsel. Financial Consumer Agency of Canada: Ursula Menke, Commissioner. Office of the Superintendent of Financial Institutions: Philipe Sarrazin, Managing Director, Legislation and Policy Initiatives.

Pursuant to the Order of Reference of Tuesday, February 14, 2012, the Committee commenced consideration of Bill S-5, An Act to amend the law governing financial institutions and to provide for related and consequential matters.

The Minister made a statement and, with the other witnesses, answered questions.

At 4:31 p.m., the sitting was suspended.

At 4:34 p.m., the sitting resumed.

Terry Campbell, Frank Swedlove, Ursula Menke and Philipe Sarrazin made statements and answered questions.

At 5:32 p.m., the Committee adjourned to the call of the Chair.

Guyanne L. Desforges
Clerk of the Committee

2012/03/09 11:32 a.m.