I agree that this is pure symbolism; there's nothing of really any substance here. Apparently, according to the FCAC, the total number of violations found over five years was 120 violations, and the total sum of administrative monetary penalties was $117,000. So for those 120 violations, it looks as though it's about $1,000 a pop. It seems somewhat silly to be talking about an average monetary violation of $1,000 a pop when in fact you want to up the maximum to $500,000.
I think this is gratuitous bank-bashing, and I will not support it.