Mr. Rosen, I have a question for you, and then I think I'm done.
This morning I was at a meeting with the Investment Industry Association of Canada, and they had a guest speaker. One of the reasons he was interested in and has been an active promoter of a single securities regulator is in the area of prosecuting those who are cheating. On the security side, because we have 10 different security regulators, the issue of catching people who are breaking the rules or the law and actually bringing them to court and getting it resolved is much more difficult. His view was that it's one of the areas that a single securities regulator could add value to this country's ability to protect investors from unscrupulous folks.
Based on your resumé and everything else you've said today, you have been involved in these prosecutions and you've have had some difficulty. Is it because these individual provincial regulators don't have the teeth, don't have the money? If we were to go to a single regulator, what would your advice be?