We will have to see how this volunteer board will work. Unfortunately, we will not be able to support it if, in the end, it is a single securities act that allows the federal government to indirectly control legislation. Practically speaking, that would mean the government would indirectly be doing what the Supreme Court ruled it could not do.
I want to repeat that the day-to-day regulation of securities falls under provincial jurisdiction. The federal government obviously has responsibilities that will impact securities regulation. For example, we believe federal responsibilities regarding systemic risks are limited to certain areas, such as clearinghouses. In fact, the federal government is already involved with the Canadian Derivatives Clearing Corporation through the Bank of Canada.