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Regulatory Oversight of Financial Institutions

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Statement made on 18 June 2009 by Senator Jerahmiel Grafstein (retired)

Hon. Jerahmiel S. Grafstein:

Honourable senators, my question is for the Leader of the Government in the Senate. Earlier this week, President Obama announced sweeping reforms for oversight and re-regulation of the financial instruments and institutions in the United States.

The only reforms that we have had in this place have been two amendments to the Bank of Canada Act that were included in budget implementation bills — this one and the one previous — which were dealt with in both houses in under a day or two of debate.

Does the Government of Canada intend to examine and amplify its regulatory oversight of financial institutions to better protect consumers and investors, and to enhance consumer confidence in our financial sectors?

Please click here to read the full text of the Senator's question


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