Thank you.
Mr. Rosenbloom is quite correct that once TIEAs are in place, they're very seldom used and it is extremely bureaucratic.
We argue that the world should begin an automatic exchange of tax...[Technical difficulty--Editor]...information, and I would assume the OECD would have to initiate this. So it's not upon request. There is very little bureaucracy. It's when that type of information becomes available; it's automatically provided to the country where the...[Technical difficulty--Editor]...is a citizen. This is already in place in the EU, with the EU savings tax directives.
So if you are a citizen of France and have an account in Germany, that information automatically...[Technical difficulty--Editor]...the German bank to the French tax authority. There is no question about whether it goes or not; it happens seamlessly.
We think it should be expanded to include corporate accounts as well, but it certainly...[Technical difficulty--Editor]...as far as TIEAs are concerned.