Yes, I can tackle that.
Just to clarify your question, it's concerning the regulatory regime and whether or not we think we would benefit from an intergovernmental body to coordinate.
Yes, I do agree. I think there are two areas where there is a problem. One, as you've mentioned, is on the pension regulation side and the other is on the securities regulation side. That affects all capital market players, because it adds to the complexity. The more administrative complexity there is, the more time-consuming it is. It just creates an extra layer of work that is not really adding any value.
So, yes, I do agree that it would be better to have better coordination for pension law and securities law. I also would submit that the federal government would be a key player and should take a lead role in achieving that. I think the biggest challenge is that everyone is not going to agree, as always.