Mr. Speaker, when it comes to the approval of foreign acquisitions being returned to the minister, we know our financial system is a model for countries around the world. It is something that happened in the past. Many of the quotes that I gave during my speech support this move. This simply requires ministerial approval when a federally regulated financial institution acquires a major foreign entity that significantly increases its assets by more than 10%.
In the House of Commons on March 27th, 2012. See this statement in context.