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FINA Committee Meeting

Notices of Meeting include information about the subject matter to be examined by the committee and date, time and place of the meeting, as well as a list of any witnesses scheduled to appear. The Evidence is the edited and revised transcript of what is said before a committee. The Minutes of Proceedings are the official record of the business conducted by the committee at a sitting.

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Minutes of Proceedings

44th Parliament, 1st Session
Meeting 160
Thursday, October 24, 2024, 3:42 p.m. to 5:39 p.m.
Televised
Presiding
Peter Fonseca, Chair (Liberal)

Library of Parliament
• Mehrab Kiarsi, Analyst
• Michaël Lambert-Racine, Analyst
As an individual
• Nathan Hume, Lawyer
• Jeffrey Simser, Barrister and Solicitor
Business + Higher Education Roundtable
• Matthew McKean, Chief Officer, Research and Development
• Valerie Walker, Chief Executive Officer
Canadian Gas Association
• Paul Cheliak, Vice-President, Strategy and Delivery
École de technologie supérieure
• Kathy Baig, Director General and Chief Executive Officer
• Éric Bosco, Executive Director, Institut AdapT
Mortgage Professionals Canada
• Lauren van den Berg, President and Chief Executive Officer
Pursuant to Standing Order 83.1, the committee resumed its pre-budget consultations in advance of the 2025 Budget.

Nathan Hume, Jeffrey Simser, Valerie Walker, Paul Cheliak, Kathy Baig and Lauren van den Berg made statements and, with Matthew McKean and Éric Bosco, answered questions.

The committee proceeded to the consideration of matters related to committee business.

Motion

Jasraj Singh Hallan moved, — That, given the unprecedented $3 billion fine on TD by the US Department of Justice and given the criminal activity that this money laundering fuels has likely carried into Canada, the US has named Canada as a major money laundering country and Canada has developed an international reputation for ease of money laundering and has a lack of enforcement, the committee invite Bharat Masrani, Chief Executive Officer of the TD Bank, the Superintendent of OSFI, the Minister of Finance, Bank of Canada officials responsible for the Financial Crimes Risk Management Program, and FINTRAC, and that these hearings happen in addition to the regularly schedule committee work plan and that, in order to the accommodate these witnesses, regular committee meetings be extended by one hour.

Debate arose thereon.

Motion

Rachel Bendayan moved, — That the debate be now adjourned.

The question was put on the motion and it was agreed to on the following recorded division:

YEAS: Yvan Baker, Rachel Bendayan, Don Davies, Julie Dzerowicz, Francesco Sorbara, Joanne Thompson — 6;

NAYS: Adam Chambers, Jasraj Singh Hallan, Pat Kelly, Marty Morantz, Gabriel Ste-Marie — 5.

Questioning of the witnesses resumed.

At 5:39 p.m., the committee adjourned to the call of the Chair.



Alexandre Roger
Clerk of the committee