Thank you, Mr. Chair.
I want to thank all the witnesses for being here and for sharing their expertise.
My first question is for Mr. Howlett, but first I would like to thank the witnesses who provided their opinion on the issue of beneficial owners.
Mr. Howlett, I would like to hear your thoughts. In some countries, there will always be a degree of secrecy in financial or banking systems and even in company registries. The risk is that, even with company registries that are very transparent, certain company structures will ultimately still use foreign countries that do not have the same standards or the same transparency. That is part of the equation we have to bear in mind.
In your opinion, should we be worried about this?