Thank you.
Mr. Campbell, earlier, Mr. McKay said that we all agree on the creation of a single securities regulator. I would just like to point out that there is no consensus on that subject. It is very clear that in Quebec, there is a major disagreement. The issue has even been referred to the Supreme Court by the current Conservative government.
You would like to see the establishment of a single securities regulator. For such an entity to operate effectively, where should it be located?