Thank you.
The next focus I would like to talk about is the common securities regulator, and I don't think it's a secret that we've been long looking to establish a security regulator in Canada. I see the legislation will extend the mandate of the Canadian Securities Transition Office by removing its statutory dissolution date. In other words, it seems clear the federal government is looking to move forward with this idea.
Could you explain why the creation of a common securities regulator in Canada is so important, and how the current plans relate to the Supreme Court of Canada's decision in December 2011?