Thank you, Mr. Chair.
First, I'd like to specify that I'm not a lawyer, so I can't give a legal opinion on the decision of the court. However, I have read the decision, and the Supreme Court did confirm a role for Parliament with respect to the regulation of securities, particularly as it pertains to preserving the integrity and stability of capital markets. It also confirms Parliament's role in criminal matters with respect to white-collar crimes. It also suggested that both Parliament and the provinces collaborate with one another in administering their respective responsibilities.
It did say it appears that the day-to-day regulation of securities is within provincial jurisdiction.