10:24 AM EDT, 03/22/2024 (MT Newswires) -- The five-person expert panel convened by the federal government to study the legislation that made cannabis legal on Thursday released its final report.

Among the 54 recommendations, the panel urged Finance Canada to consider a new model that would increase excise taxes on products with high quantities of tetrahydrocannabinol, and lower fees on those with smaller amounts. "This would involve higher-potency products being subject to more tax than lower-potency products."

The panel also recommended that Health Canada reduce the financial and administrative burden it places on participants in the legal industry. "We recommend Health Canada accelerate its work to reduce unnecessary regulatory burden, informed by the experience gained over the last 5 years." The panel said it appears there is room to revise certain regulatory requirements without compromising public health or public safety.

The legislative review of the Cannabis Act was launched in 2022.

Cannabis stocks are performing well in morning trade -- Canopy Growth ( CGC ) is up 21% and the most actively traded on the TSX. Tilray (TLRY.TO) and Aurora Cannabis ( ACB ) *ACB.TO) are both up 11%.

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