Thank you, Mr. Chairman.
Welcome to our guests.
I have a thought process here and I'd just like to throw something open to all our guests. We've had discussion in the House and in Parliament generally with regard to the attributes and/or the desirability of having a national securities regulator. One of the reasons this was brought forward was to stop the patchwork of rules and regulations. Assuming that we were to swing this thought process around to pensions, right now, with the patchwork that is out there, the fact that the federal government only has or controls roughly 10% to 12%, as mentioned by Mr. Menzies today—I'm not sure of the exact amount—and the provinces handle the rest with the private, there's a lot of confusion among pensioners, sponsors, and regulators.
What are your thoughts on either the need for or the possibility of a national pension regulator? I'd ask for a response from everybody.