Madam Speaker, with respect to the first question as to which body would be responsible for enforcement, we need to differentiate between civil and criminal enforcement, and compliance and sanctions.
Bill C-46 deals with criminal behaviour in terms of fraudulent activity, misrepresenting financial information, insider trading and protecting whistle-blowers. That is precisely one of the aspects with which the bill deals. It deals with criminal sanctions and calls for prison terms and fines.
Market enforcement teams would be established across Canada, as I said earlier, over the next of years. They would be composed of RCMP investigators, forensic accountants, lawyers and other investigative experts. The teams would be responsible for tracking down corporate criminals and deterring future occurrences of these crimes.
On the civil side, we have the Ontario Securities Commission that has sanctions of prison terms and fines for CEOs and chief financial officers who misrepresent economic realities in the financial statements. We have the Canada Business Corporations Act which could also have some civil penalties.
The point we have also made is that if we were to increase the sanctions under the Canada Business Corporations Act, the member is absolutely right to note that we would have to have the teeth and resources to monitor compliance and then we would have to have the resources to prosecute where companies were not following through on their responsibilities under the Canada Business Corporations Act, or indeed under the rules of the Ontario Securities Commission. But the Ontario Securities Commission would be something with which they would deal.
As Canadians, we should be monitoring how effective and productive these different players are in dealing with these issues because we will gain some experience and knowledge of how it is all working as we move forward.