That's my question. As you know, currently through our CSA, the Canadian Securities Administrators, we do have a number of national instruments that go across the country; however, there are gaps in that. I have concerns and we have concerns that it's a sort of two-tiered system, where some are members of the cooperative group and others are on the outside, and participating and agreeing on certain initiatives will only create greater regulatory gaps and greater confusion among investors. A single regulator is still the best solution.
On October 27th, 2014. See this statement in context.