Banking, Trade and Commerce – May 26, 2015

In Committee from the Senate of Canada

Banking, Trade and Commerce – May 26, 2015

The committee begins its pre-study of the budget implementation bill (C-59).

Senior officials Lisa Pezzack and Heather Kay (both with Department of Finance Canada) and Dan Lambert (Financial Transactions and Reports Analysis Centre of Canada) discuss the division requiring FINTRAC to disclose designated information to provincial securities regulators in certain circumstances. They also provide details on the protection of prescribed supervisory information that relates to federally regulated financial institutions. Jean-François Fortin from the Autorités des marchés financiers focuses his remarks on the division related to FINTRAC. (May 26, 2015) UPDATE: Bill C-59 received royal assent on June 23.