Finance committee  It's something you get only if you perform in the job.

Finance committee  I think that's a question for the Office of the Chief Actuary. He is independent. He is the expert. He is situated within OSFI, which is why he's covered under our annual report.

Finance committee  No. That is advice that is given by the Chief Actuary of Canada.

Finance committee  Every year my assumption is that all types of institutions are going to be dealing with lawsuits. If we felt there were major problems with an institution that were leading to lawsuits all the time and that there did not seem to be any controls whatsoever, that is something we'd

Finance committee  I don't think you know whether they've broken the law until it's been through the courts.

Finance committee  We have lots of conversation with banks, but it's always about things that, if not corrected, we think are going to lead to a safety and soundness problem. We would have to determine that. A lawsuit out there of that magnitude.... I would say that most of our discussions with t

Finance committee  We don't have law enforcement agencies asking us to do work for them, but with FINTRAC we have an arrangement, wherever we thought it would be more efficient if we did the work as opposed to having us and FINTRAC going in and doing the same kinds of work.

Finance committee  In the last few years there were a lot of initiatives; there was a lot of effort put toward reducing overlap and duplication. Now only one agency approves new entrants into the sector. It used to be both of us; now it's only OSFI. Only one agency now sets out guidelines for sound

Finance committee  I'll answer the part on the oversight of financial institutions. Oversight would include the cost of teams that we send into financial institutions. They will go in, meet with senior management, ask for documents, ask to see board minutes and things like that.

Finance committee  I think that would refer to if you were at a certain level, the pay scale when you moved into the job would be x dollars, and over time the pay scale would rise, depending on the experience you'd gained.

Finance committee  I don't see a major impact just yet. One proposal talked about being able to buy securities, if you're in Florida, using a broker in Florida, and that kind of thing, which doesn't have an impact on OSFI, given that we're looking at federal financial institutions and we're not res

Finance committee  All tax changes often lead to commentary, and this change affects not only banks but all corporations. Every time tax rules change and banks are affected.... It happens on an ongoing basis. That's the way our system works. It doesn't really affect OSFI's work. What we would focu

Finance committee  Yes, most of his costs are in the form of user fees, so to speak, where he has memorandums of understanding with other government departments. When he works on Canada student loans, or CPP, or whatever, he is reimbursed by those departments for that work.

Finance committee  No.

Finance committee  Yes.