Madam Speaker, once again, I have heard a colleague give an excellent speech explaining what this bill is all about.
I will return to the issue I was discussing a little earlier with the hon. member for Saint-Jean. Why does the federal government, yet again, feel obliged to interfere in areas of provincial jurisdiction? Why do they operate this way, always complicating matters? Instead of improving things, the federal government is always trying to take over fields of jurisdiction that do not belong to it.
My colleague mentioned the example of Bre-X. He is perfectly right. Something quite serious happened: a company sold stock under false pretences. I will note here that Bre-X stocks were also sold in Quebec, but such sales were not governed by the Quebec securities commission.
In passing, I should say that I think the Quebec securities commission does the best work in all of Canada. As the hon. member for Saint-Jean said, it is certainly better than what is done in the United States. We have seen the Enron case, in the United States, which was quite an incredible scandal.
I would like the hon. member to answer my question. How can he explain that the government does not look after its own jurisdictions? For an example, look no farther than the environment. At home on Friday, I listened to a televised debate during which they showed that there is an incredible amount of work to be done in Lake Saint-Pierre.
This government has the jurisdiction. Why does it not work within its own jurisdiction? Why is it always meddling in areas of jurisdiction that are none of its business?
Beyond that, there is no doubt that a law that makes investing safer is a good law. What is bad about this legislation is that it is no business of the federal government. I would like to hear my hon. friend's ideas on this.