I would suggest that a comprehensive set of rules and penalties that is publicly known is what is missing. If the rules were clear and penalties sufficient, each party would have their own compliance mechanisms to keep them out of trouble and the opposition and media could expose any failings.

There would be no reason for an Ethics Commissioner (and associated costs).

One of the examples in the article was about a giant cheque that had a CPC logo on it. Outlawing that could be one of the rules made. On the other hand it isn't particularly horrible.

The recent circumstance where a Finance minister influenced regulatory changes that made him millions of dollars is far more egregious and warrants a very stiff penalty.