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This enactment amends the Criminal Code by creating a new offence
of prohibited insider trading and creating a new offence to prohibit
threatening or retaliating against employees for disclosing unlawful
conduct. The enactment increases the maximum penalties and codifies
aggravating and non-mitigating sentencing factors for fraud and certain
related offences and provides for concurrent jurisdiction for the
Attorney General of Canada to prosecute those offences.
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The enactment also creates a new procedural mechanism by which
persons will be required to produce documents, data or information in
specific circumstances.
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Clause 1: (1) and (2) Paragraph (g) of the definition
``Attorney General'' in section 2 is new. The relevant
portion of that definition reads as follows:
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``Attorney General''
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(a) subject to paragraphs (c) to (f), with respect to proceedings to
which this Act applies, means the Attorney General or Solicitor
General of the province in which those proceedings are taken and
includes his or her lawful deputy,
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Clause 2: (1) The relevant portion of subsection
380(1) reads as follows:
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380. (1) Every one who, by deceit, falsehood or other fraudulent
means, whether or not it is a false pretence within the meaning of this
Act, defrauds the public or any person, whether ascertained or not, of
any property, money or valuable security or any service,
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(a) is guilty of an indictable offence and liable to a term of
imprisonment not exceeding ten years, where the subject-matter of
the offence is a testamentary instrument or the value of the
subject-matter of the offence exceeds five thousand dollars; or
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(2) Subsection 380(2) reads as follows:
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(2) Every one who, by deceit, falsehood or other fraudulent means,
whether or not it is a false pretence within the meaning of this Act, with
intent to defraud, affects the public market price of stocks, shares,
merchandise or anything that is offered for sale to the public is guilty of
an indictable offence and liable to imprisonment for a term not
exceeding ten years.
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Clause 3: New.
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Clause 4: The relevant portion of section 382 reads as
follows:
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382. Every one who, through the facility of a stock exchange, curb
market or other market, with intent to create a false or misleading
appearance of active public trading in a security or with intent to create
a false or misleading appearance with respect to the market price of a
security,
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is guilty of an indictable offence and liable to imprisonment for a term
not exceeding five years.
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Clause 5: New.
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Clause 6: New.
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Clause 7: New.
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Clause 8: (1) The relevant portion of subsection
487.3(1) reads as follows:
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487.3 (1) A judge or justice may, on application made at the time of
issuing a warrant under this or any other Act of Parliament or of granting
an authorization to enter a dwelling-house under section 529 or an
authorization under section 529.4 or at any time thereafter, make an
order prohibiting access to and the disclosure of any information
relating to the warrant or authorization on the ground that
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(2) Subsection 487.3(4) reads as follows:
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(4) An application to terminate the order or vary any of its terms and
conditions may be made to the justice or judge who made the order or
a judge of the court before which any proceedings arising out of the
investigation in relation to which the warrant was obtained may be held.
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