Finance (March 8, 2012)
Minister of State for Finance Ted Menzies and representatives from the financial industry appeared before the committee to discuss Bill S-5, which would update Canada’s banking laws.
Menzies and senior Finance officials spoke about the importance of the proposed legislation and elaborated on how the changes would modernize the country’s banking system.
In the second part of the meeting, Terry Campbell from the Canadian Bankers Association, Frank Swedlove from the Canadian Life and Health Insurance Association Inc., Ursula Menke from the Financial Consumer Agency of Canada, and Philipe Sarrazin from the Office of the Superintendent of Financial Institutions discussed how the changes would affect their respective organizations.
UPDATE: Bill S-5 received royal assent on March 29.