Thank you, Mr. Chair.
Thank you, Ms. Ryan. I do appreciate that you've come to help start our discussions on, as you note, the easily referenced PCMLTFA.
Let's start with a larger issue, given what the chair just said about our ability to familiarize ourselves with the discussion paper. It would seem to me, just from a quick overview, that we have a difficult triangle of objectives. We have an obligation with regard to privacy rights; we also feel that we have an obligation to minimize the administrative burden; and yet we also want to combat money laundering and terrorist financing. Can we do all three?
If we can't, given the state of where things are at, how are we going to be most effective in combatting money laundering and terrorist financing? What are the things that we have to do to bring ourselves up to that international level?