I know the securities regulators across Canada are looking at the operation of the exempt market as it pertains to asset-backed commercial paper. The big issue here is that asset-backed commercial paper was sold without a prospectus because it was in the exempt market. The security regulators are looking at that and whether anything needs to change in that regard.
One of the issues in this market is that it evolved quickly over time. For a long time it stayed the same and the product stayed the same--the asset-backed commercial paper. Indeed, the asset-backed commercial paper vehicles that banks themselves set up tended to be plain vanilla. But the asset-backed commercial paper conduits that were being set up by the unregulated players tended to be much more complex and aggressive. I think you always have to be concerned if a product changes over time and you don't see it.
I noted that we were looking at the approved product list processes--