The issues with real estate and the various themes that you put forward are really at the crux of some of the more difficult and important issues that we hope to move forward with in this review and subsequent legislative changes.
If I may say, the issues that you spoke to include the inclusion of lawyers in the regime and the ability to assess the beneficial owners of a corporation. Corporations have been cited in a number of studies of real estate transactions.
On the issue of lawyers, you quite rightly point out that lawyers are responsible for a number of financial types of transactions that in other countries are parsed between the aspect of solicitor-client privilege versus that which is more transactional in nature and covered by FINTRAC and its reporting requirements.
I would agree with the member that these issues relate to serious problems that speak to our deeply held objectives.
In terms of the question of real estate specifically, I would point to efforts by our colleagues at FINTRAC to work closely with the real estate associations and the industry to flag to them their responsibilities to be on the lookout for suspicious transactions that speak to knowing their client—that's a fundamental principle in this space—and looking for suspicious transactions. That speaks to questions like the source of funds, the nature of the transaction, and so on. I would say that these are issues at the core of what the committee has struck for itself as its mandate.
On all fronts, I would say that we agree that the problems are serious. The efforts that are being put to these questions are comprehensive. There are a lot of resources at play. There are additional resources at play in the private sector. The ability to have the most comprehensive and targeted regime to address these problems is, I think, a shared objective of all of us here today.