There is a global effort to try to address this problem. At this point Canada is a laggard. It's true that other countries may pick up the slack if Canada were to improve its game, but there would be international pressure to bear. I know that when the finance minister has gone to the G20 meetings, he has come under pressure from his colleagues on this. Similarly, international pressure can be brought to bear on countries that don't step up their game and try to bring their regimes up to international standards.
Now one of the issues here is that the FATF report, which the discussion paper referred to, is a bit outdated. Just coming up to scratch with those recommendations is not sufficient, because the EU and the U.K. have moved beyond that. I expect that in the next round of G20 meetings and so on, where these issues are being agreed on internationally, they will agree to a much higher standard. That includes a public, accessible registry of beneficial ownership information.
Now we're not saying the federal government does everything. We still want to have provincial and territorial corporate registries, but the same information needs to be collected, the same minimum standards need to be implemented, and they need to agree on some way to bring the information together in a searchable database. That would bring it up to the emerging new global standards. If countries don't comply with that, there will be pressure brought to bear in various ways for them to up their game.