Finance committee  I do not know if it is premature. As you know, this matter has been debated in Canada for almost 40 years. A number of studies have looked at it. Given the credit crisis and its consequences, it would be premature to come to complete and final conclusions about those events, but

Finance committee  On your first question, the panel is assisted in its work by the firm of Stikeman Elliott. Along with the panel, they are holding the pen in drafting the model of common law. Other resources that have been assigned to the panel include the Capital Markets Institute, which is lea

Finance committee  In respect of the drafting of the bill, you'd have to ask the panel itself. It is residing with the panel and its advisors. My understanding is that the work is proceeding, but there are also consultations taking place.

Finance committee  The report on the common law is to be presented to ministers by the end of the year.

Finance committee  I imagine it will be shared quite widely, because it will be shared with your provincial counterparts.

Finance committee  Mr. Chairman, we had understood that the P3 would not be addressed at this meeting, because we're not in a position to answer that question with authority.

Finance committee  I wouldn't be able to comment.

Finance committee  If you wish, we could put the panels together.

Finance committee  Thank you, Mr. Chair. My name is Serge Dupont. I am assistant deputy minister in the financial sector policy branch. I would just like to speak to you about the Expert Panel on Securities, the other group mentioned in the supplementary estimates. In Budget 2007, the government

Finance committee  I guess the real issue is what the benchmark is and what other pieces of legislation, whether federal or provincial—for example, securities laws, and so forth—provide in administrative and monetary penalty regimes. The $200,000 is bringing the Bank Act essentially to the level o

Finance committee  I guess this is simply a replica of the earlier amendment that was considered by the committee, but this is in respect of foreign banks. (Amendment negatived)

Finance committee  Exactement.

Finance committee  Again, Mr. Chair, I wasn't able to see this before the meeting. Obviously in addition to having the meeting with the community to discuss alternatives, as this bill is now asking the bank to do, it is introducing notions of a statistical report, a cost-benefit analysis and so f

Finance committee  I don't have the detailed statistics with me, Mr. Chair, but we can certainly check and see.

Finance committee  My understanding is that the vast majority—