Through you, Mr. Speaker, I will answer my hon. colleague's question.
Let me start by saying that I find this to be a very good question. Both abroad and within our borders, individuals having authority over the money of others have indeed been seen to engage in embezzlement.
I would point out that we are living in a country governed by law, however, and that in many provinces, including mine, numerous companies fall under provincial jurisdiction, while others fall under federal jurisdiction.
Currently, in each province, there is a slew of securities commissions, and this forces us to seek a balance and to closely consider how the system will work and how these white-collar criminals will be caught. While this is the general term used, we cannot paint everyone with the same brush.
Bill C-52 will at least open a door for dealing with such individuals. Regarding Vincent Lacroix, for instance, it was pointed out that he had a government licence and an established office, which meant that he met the requirements for getting into that line of business. But the fact remains that this man defrauded 9,200 people. He has fleeced 9,200 people. He is currently being prosecuted and was, in fact, sentenced to 13 years of imprisonment. That is a stiff sentence, in my opinion, considering that the next stiffest sentence is life imprisonment.
I therefore think that Bill C-52 will provide greater control over these types of situations.