You're right, that is a good question, but I will focus on mine.
Mr. Delorme, who was a senior official at the Department of Finance for over 20 years, appeared before the committee. He explained that, based on his experience, he was convinced that the government should legislate more stringently to regulate the financial sector. He said that “private short-term objectives take precedence over longer-term objectives that focus on the common good, such as climate or population aging.”
He talked about intergenerational fairness and added that the public good objectives won't be achieved if banks regulate themselves. We can't just offer them guidelines or suggestions. We need to require banks to have plans, to twist their arms.
The Department of Finance sees all that, along with the daily practices of Canadian banks in the markets. Has it started developing actual public policy and real legislation?