Why hasn't someone introduced legislation to close this so called loophole?

How was it that this loophole was ever allowed? A holding company provides no buffer against conflicts of interest in any way, and everyone in the government knows it.

It is absolutely contemptuous that this farce was allowed. 

Morneau's situation is the worst example of being in conflict of interest we have ever seen. He had a great deal of influence on these decisions and owned millions of shares in accompany that directly benefitted from the decisions. There can be no more obvious conflict.

He must resign.