First of all, I recognize and I think you're bang on when you say there's a certain symmetry between the charity issue and the securities regulator issue. I think the difference is between a federal regulator and a national regulator. A national regulator involving all the provinces, which by the Constitution have the jurisdiction to engage in regulation, is using their powers to regulate. The actual technical stuff can get worked through. The involvement of the provinces in that council is necessary to overcome some of the objections of the Supreme Court. I think you're right on when you say that involving the provinces is the answer rather than the question. So I think that's the way to go.
On February 9th, 2012. See this statement in context.