Thank you, Mr. Chairperson.
Thank you, Bill, Jim, and Susan, for being here. I think it's really important that the FCAC is before our committee. We should make this a regular affair, because there's so much to cover.
I want to start with mortgage insurance. Obviously, as the federal market conduct regulator in the financial sector, you have something to say about this, or you have some responsibility, I would hope, or somebody has responsibility, for this whole area. We've had quite a debate in this committee now that the government has decided to open up mortgage insurance for competition but has no willingness to put in place any kind of oversight body or conditions or regulations. Some of us are worried about how the consumer will be protected in this.
How do you prevent things like collusion between lenders and insurers? And what's your role?