The Ethics Commissioner has recommended expanding the number of secret investments you can have. He views an investment in an ETF, because you don't control it, to not be a financial conflict of interest. Of course, it is. Just because you don't control it...but you know what it's invested in. An ETF can be industry-specific, so can a mutual fund, and he wants to allow those to be invested. He also wants to expand the “broad class of persons” loophole to match what is in the MP code.
Both of those are going to weaken the act and make it even more possible to participate in decisions when you have financial conflicts of interest and to have secret investments—which you know about but the public doesn't know about—that cause financial conflicts of interest. He's saying, “No, when you're making a general decision, you're not in a conflict of interest because it's not about one company.” Yes, it is, because it's about your investments and you could profit from that decision. His attitude is negligently weak, unfortunately, concerning conflicts of interest, and he enforces the Conflict of Interest Act.