What's fair to say is that the business community is virtually unanimous from coast to coast to coast that Canada is in need of a common securities regulator. That's not even contestable. And it's true in Quebec as well as Alberta and a whole variety of.... There is a need for this, and that is what the driver is here, so I'm pleased to see you asserting some leadership in this area.
The other problem is that effectively the common securities regulator becomes Ontario by default, because the overwhelmingly vast number of securities get traded in Toronto. So it seems a somewhat strange idea that those who oppose a common securities regulator are prepared to defer to Toronto and let the Ontario Securities Commission, the OSC, effectively run securities regulation in this country.
If the place where far and away the most securities are traded is prepared to be onside and is a driver behind this common securities regulator, why is it that Ontario in effect is prepared to share jurisdiction with the rest of the provinces and territories and effectively cooperate with the federal government in trying to set up a common securities regulator so that the people who issue securities don't have to go to 13 separate jurisdictions to be able to do a share issue?