At first instance, as previously said, we fully intend to consult with the implicated businesses and professions on the model. We'll be able to take on board their feedback on the methodology. The regulations should provide quite a good sense of how those costs will be calculated and will provide a great deal of transparency to those businesses and professions. In addition to our informal consultations, there will be the formal Gazette consultation process. Again, that would be public. They'd have an opportunity to comment through the normal government regulation-making processes.
Assuming these amendments get passed and assuming the regulations come into force as well, following that, FINTRAC intends to have ongoing outreach with regulated entities on the issue of cost recovery. We've had discussions with OSFI, who have similar outreach on a regular basis, to go over projected changes to their costs, for example, and explain where those costs would be going. We expect a great deal of transparency and interaction with those sectors.
Last, FINTRAC is subject to corporate reporting. It reports to Parliament via the Minister of Finance. FINTRAC's intended changes to compliance costs would be laid out in its annual reporting. That would provide further transparency to the public. If any reporting entities had any concerns, in addition to being able to voice them with FINTRAC, they would be able to voice them with the Minister of Finance, who would be reviewing that annual reporting before it went to Parliament.