I see old habits die hard.
In terms of market efficiency, have any studies or empirical analyses been done on the activities of issuers and investors or on the benefit of applying a system that is working well right now instead of a multi-tiered system, if that system were to ever work? Have you done any empirical studies on efficiency, as recommended by IOSCO, the IMF, the World Bank and the OECD, yes or no?