I may surprise you, but I totally support the Supreme Court decision. The federal government does indeed have a role to play in terms of systemic risks, criminal law and competition. There is no problem there. However, the Supreme Court decision does not give the federal government the responsibility for the day-to-day regulation of securities.
Within this context, if the federal government and the provinces want to play their respective roles as defined in the Constitution, the only way to do so is to set up a collaborative structure. It is in fact mentioned in the Supreme Court decision. In Quebec, we are prepared to do so, as long as Quebec's jurisdiction over securities is respected.