Thank you for the question.
I have to be straightforward and clear and declare that at the firm I work for, GrowthWorks, we're somewhat conflicted, because we're involved in a proposed transaction to take over the Crocus Fund. So if I may, I'll limit my remarks to things that would represent the industry and the industry's view.
The Crocus matter represented some failings in the nature of governance of that fund and the structure of that fund as a consequence. In Ontario, the structure is somewhat different, such that the manager and the fund are totally independent, the fund has a totally independent board that reports to the shareholders and the investors, and there's a contractual relationship with the manager. That, by and large, is the experience in Ontario.
While we heed the Auditor General's remarks—and indeed, it was my predecessor who wrote the report on behalf of the Auditor General making recommendations on how to correct the problem in the future—I think you'll find that in Ontario most, if not all, of those recommendations are a matter of practice in the industry, and we don't really encounter that issue.