Finance committee  Right, thank you. I regret to say that the issue of how the regime works operationally is really not in the domain of the department, so then we're not immersing ourselves in how agencies—enforcement agencies, investigation agencies—are actually operating.

Finance committee  Were we to obtain any information we would share it with the RCMP, obviously.

Finance committee  Indeed.

Finance committee  We are, as I say, to a degree removed. Of course, my colleague and FINTRAC as an agency are in the business of sharing information. This is their job. The regime has established—and this gets to a question that was asked a little earlier as well—standards for customer due diligen

Finance committee  We are the leader of the regime as constructed with its 11 partners. We have membership on the Financial Action Task Force and represent Canada on that. The Minister of Finance is responsible for the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its regulat

Finance committee  I'd like to be able to answer that in a quantitative sense but I can't do that. Canada is on par with other countries in the G-7 in terms of the quality of our regime. I'm using here as the yardstick the review by the Financial Action Task Force, which was conducted in 2011 and

Finance committee  No. If I may answer that question, and partly the question that was previously posed, the Department of Finance is responsible for the regime's framework, law, and regulation. We're not privy to operational information. Indeed, the regime, because it stretches across a broad grou

Finance committee  I think you would be referring to the fact that FINTRAC is subject to review by the Privacy Commissioner.

Finance committee  More generally, the issue here is that we have to respect the constitutional division of powers in the charter and the privacy rights of Canadians, so this is the way in which the regime is constructed. There isn't an active review of that.

Finance committee  There is not. It would be incorporated in the context of the broader five-year reviews.

Finance committee  I'm not quite sure what you mean by an active review. The regime itself is subject to a number of reviews, in particular by Parliament every five years, so I would think that would be an appropriate basis on which to examine that question. There is in some sense here the need to

Finance committee  Thank you very much, Mr. Chair. Thank you, chairman and committee members, for the opportunity to appear before this committee at its inaugural meeting to study terrorist financing. My intention today is to give you an overview of Canada's efforts to combat terrorist financing.

Finance committee  That's the difference here. We've obtained the opportunity through the RQFII to do a direct investment into China. It's capped at the moment at $50 billion, which is on a scale that's comparable to those obtained by other centres, but it could grow over time as the Chinese libera

Finance committee  I might add that I think there are other factors at play. One is the evolution of the Chinese economy in general terms. China is modernizing and becoming a country looking for external investments very quickly. I believe the raw numbers might also distort the fact that the CNOO

Finance committee  That's a question that's very difficult to answer, but it relates to a question that was asked earlier. China and the U.S. have a very broad and complicated relationship and in that context have ongoing dialogues on economic and financial matters. We're not aware that in that con