Mr. Speaker, when we are discussing this idea of a common regulator for Canada there are two issues which have to be addressed. Number one is whether we actually believe that the Conservatives have a plan that could make a common securities regulator work given their complete lack of interest in any kind of corporate accountability. That is a big question and that is the crux of the debate.
Second, I have a problem with the Bloc motion. I recognize the role that each of the provincial jurisdictions has, but we have a record in Canada of some of the dodgiest fly-by-night penny stock scams anywhere in the world that are being perpetrated where they get booted off the TSX and they move to the Vancouver Stock Exchange. We saw Bre-X out of Calgary. We have seen so many dodgy derivatives pushed on the market. It is an issue that has to be addressed because we have failed at the provincial levels, even with the passport system, to deal with this.
I would like to hear my hon. colleague speak of the need to reassure investors and consumers that the jurisdictions of Canada are serious about taking on the kind of corporate fraud that has been perpetrated time and time again.