Madam Speaker, this is an initiative that we support as well, at least as far as getting the bill to committee is concerned.
The government is offering a lot of false hope that people are going to be able to get restitution in these cases of fraud. The member should know that the people who are perpetrating these frauds are actually spiriting the money out of the country. It is being hidden in tax shelter areas like the Cayman Islands. The government would be well advised to develop a strategy in that regard and try to shut down these tax havens. Furthermore, it should try to license participants, police them more properly and set up a proper regulatory body that does not have a lot of industry insiders regulating the industry.
That is where the problems are. This law is to deal with the problem after it has already reached the point where there is probably nothing left in terms of restitution for the people. I would ask the government to reconsider how it is approaching this matter. The legislation should be at the end of the process, not at the beginning of it.