Thank you, Mr. Chairman.
I'm encouraging members of the committee to vote against the change. It sounds great that it's half a million dollars, but I want to remind the committee that this recommendation we have in front of us, which is actually in the bill, goes from $100,000 to $200,000, which is a 100% increase already in the fines, and I think that is a significant enough change at this particular time that we don't need to be making such a drastic move. We'd be way out of line with other administrative fees or penalties that we have within other legislation, and I think that would put the Bank Act out of line with other penalty regimes that we have as the federal government.