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What's New
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Payments System Review Commenced
On June 18, Finance Minister Jim Flaherty announced the
launch of the Task Force for the Payments System Review
to help guide the evolution of the payments system in
Canada. The task force fulfills a commitment made in
Budget 2010 to review the safety, soundness and
efficiency of the payments system; whether there is
sufficient innovation in the payments system; the
competitive landscape; whether businesses and consumers
are being well served by payments system providers; and
whether current payments system oversight mechanisms
remain appropriate. The task force will be chaired by
Pat Meredith, an expert on financial sector strategy
with a particular focus on payments issues. The task
force, which will begin work immediately, is mandated to
provide the Minister of Finance with recommendations by
the end of 2011. The task force will invite submissions
from stakeholders and all interested Canadians. More
information will be available soon
here.
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British Columbia- New
Superintendent of Insurance
Carolyn Rogers has been appointed the new CEO of the
Financial Institutions Commission. She has also been
appointed Superintendent of Financial Institutions,
Superintendent of Pensions, Superintendent of Real
Estate, Registrar of Mortgage Brokers and CEO of the
Credit Union Deposit Insurance Corporation of British
Columbia. Previously, Ms Rogers was the Assistant Deputy
Minister at the BC Public Service Agency. She has spent
most of her career in the financial services industry
including at the Royal Bank where she worked in retail
banking and investments and then the credit union system
where she spent time at the provincial centrals in both
Saskatchewan and Alberta. Carolyn has a MBA from Queen’s
University and is a CMA. Carolyn started at FICOM on
Monday, June 21st. She replaces W. Alan Clark, who has
retired after 23 years of public service with the
Province of British Columbia. |
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