Thank you, Mr. Chairman.
I don't think I'll take quite that long.
I'm still struggling a bit with the regulatory regime. I just went in and read the code of conduct that we brought in through the Department of Finance. Again, it's a balancing act between stifling innovation and having a regulatory regime that allows everything to work properly. The comment was made—and I forget who made it, it may have been Flow—not to restrict merchants' or consumers' choices. However, it would seem to me that in order to have a regulatory regime, by the very fact that you have one, there is some restriction of choice.
My question to the panel is whether the code of conduct is sufficient. Is it a living thing that needs to be constantly updated, or is it too restrictive?