There isn't necessarily a link with foreign ownership, as the rules are the same for everyone, whether the investor is foreign or Canadian. At the same time, there are other policies, such as owner-operator protection and fleet separation. If these regulations are enforced properly, individual transferable quotas aren't necessarily a problem. Where it creates a bit of a problem is that these quotas become transferable, which gives them a market value.
Individual transferable quotas are a measure that has been adopted in various western countries. This has led to a surge in the value of these licences, which were previously granted to just about anyone who applied for them. Individual transferable quotas have sharply increased the value of licences, creating a movement in which some wealthier fishers have acquired licences from other fishers, in a spiral of concentration that has increased in recent years.