The third area that's missing is strengthening penalties for agreements or arrangements between federal financial institutions to a fine of $25 million, to match the existing provisions where it applies to criminal cartel penalties. This again is another way of capturing the idea of collusion or working together. These are arrangements in which large corporations co-operate to rip off Canadians, and so to make the fine in line with what we would impose on a criminal cartel, we're saying that it should be a crime to rip off Canadians, and if there's a crime, corporations should pay the fine. That's what this bill is really about—making sure companies are not ripping off Canadians and that CEO greed doesn't take precedence over Canadians' need. That's what we're doing in this bill.
On June 3rd, 2024. See this statement in context.