All right.
Some of you have commented on TIEAs, the tax information exchange agreements, as if they were successful. We've had witness after witness tell us that these may not be as effective as we think in addressing the problem of tax havens. They tend to be one-off agreements which, once in place, are seldom used. The simple reason may be that we as Canadians need to know something to trigger a question seeking information exchange. That's why people have talked to us about the possibility of automatic tax information exchange agreements.
Ms. York, I know you're the expert on FATCA in your institution. I know we've certainly been well aware of the difficulties with FATCA as the United States implements it, but I'd be very interested in your views on whether or not we in Canada can craft a good automatic information exchange agreement to get around some of the problems I've mentioned.