Name Diane Urquhart | ||
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Diane Urquhart is an independent financial analyst and former senior securities industry executive. She is a major critic of the financial system in Canada. She appeared before the Parliamentary finance committee’s hearings into Canada’s frozen non-bank asset-backed commercial paper as one of six witnesses to address the committee where she appeared on behalf of a group of retail customers of non-bank ABCP.
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Diane Urquhart says that asset-backed commercial paper is responsible for a loss of $7–$13 billion in Canada held primarily by government, corporation pension funds and treasuries. Implicated are credit rating agency Dominion Bond Rating Services (DBRS), the Federal Office of the Superintendent of Financial Institutions (OSFI), and the Ontario Securities Commission. Ms Urquhart also speaks out against some powerful institutions and people, such as Ernst & Young, JP Morgan and Purdy Crawford.
Urquhart has been helping the Nortel's laid off employees, pensioners, and the disabled in their battle to try and collect their benefits from the bankrupt company. She also testified in 2010 before a parliamentary committee that $100 million is missing from the Nortel Health and Welfare Trust and that a $37 million loan to Nortel has not been paid back.
Early career
Diane Urquhart served on the board of directors of Technovision Systems Inc. in the early 2000s.