Madam Speaker, I want to thank the hon. member for Saint-Jean and congratulate him. Whenever he speaks, no matter what the subject, I am impressed by his abilities, and not only as the defence critic.
He just spoke on a bill I am somewhat familiar with, because I worked on the stock market. I was also a bit disappointed to see that the federal government is still trying to interfere in an area under provincial jurisdiction; Quebec's securities commission does an excellent job.
The hon. member talked about a number of important issues, like insider trading. At one point, he also mentioned capital markets fraud or tax evasion. I do not know if my question relates to how this term is defined in the bill, but when we talk about it and realize that the government wants to interfere in such matters, I wonder if the bill has anything to do, for example, with individuals doing business in Canada but flying foreign flags.
Could we amend the legislation so that people working in Canada have to pay taxes in Canada, particularly those who own companies, get rich here and, to a certain extent, destroy our resources. I am thinking, for example, of a particular shipping company. The St. Lawrence River is important to me because I live close to it. When I see a shipping company belonging to Canadians fly a foreign flag, pay taxes abroad and refuse to repair the shores it has ruined, this might come under the broader meaning of tax evasion.
I would like the hon. member to tell me a bit more about this kind of fraud; when I came in, he was talking about it and unfortunately, I missed some of what he said.
I would also like him to talk again about insider trading. This is extremely important. He has touched on it. We see that bad or dishonest decisions have led to the almost total disappearance of a certain pension fund over the past few years.
I ask the hon. member to explain this in greater detail.