That's a very good question. Fortunately, that's not a question for me to answer.
The government has created a transition office and, in a kind of opt-in basis, has invited those provinces that are interested to help design it. Mr. Hyndman, who was formerly with the B.C. Securities Commission, is now heading up the transition office. I've heard him say that this will be one of the questions under design as the transition office goes forward.
Now, my sense is that, clearly, to make a system work you would need to have centres of excellence and centres of expertise across the country. But our firmly held view is that an integrated regulator able to apply the same kind of consolidated oversight that OSFI does, for instance, on the prudential side would be a very valuable participant at the table. We know we have the prudential regulator, the deposit insurer, and the Bank of Canada, but there's this empty seat for the securities regulator. Having that kind of integrated approach to regulation would stand Canada in good stead going forward.