The speeches are free of charge but please note that the Empire Club of Canada retains copyright. Neither the speeches themselves nor any part of their content may be used for any purpose other than personal interest or research without the explicit permission of the Empire Club of Canada.
A joint meeting of The Empire Club of Canada and the Canadian Club of Toronto.
The meaning of the term "public servant." The concept of service to the public alive and well in the office that the speaker has the honour to head, called the OSPE. A brief overview of Canada's financial system. The role that OSPE plays within that system. Challenges facing OSPE. Some of the change underway to enable OSPE to respond better to those challenges. What the speaker means by the financial system. OSPE's primary responsibility of supervising federal financial institutions. Other regulators of financial institutions in Canada. Role of the Canadian Deposit Insurance Corporation (CDIC). A short history of the OSPE, with objectives and philosophy of supervision. Methodologies developed. What was happening in the financial world while the OSPE was developing its methodologies. Consolidations, failures, and closures during one of Canada's worst recessions. OSPE's responsibility vis a vis these financial institution failures and closures. How the OSPE carries out its role of protecting depositors, policy holders and creditors. How the OSPE is doing, and how it might improve. The moral that regulators are human and do not have perfect foresight. A summary of some of the recommended changes that OSPE regards as most important. The many challenges that face the financial sector. Above all else is the volatility that pervades every aspect of economic life. The need for OSPE to keep pace. Our money a great deal safer with the OSPE.