The way it works is as follows.
We set the capital requirements and liquidity rules--but capital requirements primarily. If you're going to get involved in complex products, if you're going to be investing in complex products, the focus is capital. There was a lot of discussion, not only in Canada but around the world, about complex products, because these were evolving quite quickly. There were studies done internationally by regulators, and OSFI participated.
A number of questions were asked. Do investors understand what they're buying? Do banks understand what they're doing? Do rating agencies understand what they're doing? Do regulators understand what's going on?
So regulators had done a fair bit of work and had identified risks. We would have gone into all the institutions and talked to them about the risks that we were seeing, delving further and trying to see whether they had the staff who understand the risk because it's primarily their responsibility. We are not in there on a day-to-day basis to see what they're doing.