The compliance costs that have been mentioned relate to the costs the individual entities incur to implement and to be compliant with this act and the anti-money-laundering rules.
This law proposes that reporting entities would become responsible for paying for FINTRAC's compliance costs, which are the costs it incurs as a regulator to undertake those activities. It's comparable to what we've seen with other financial sector regulators, like the Office of the Superintendent of Financial Institutions, for example, which previously had a role in supervising anti-money-laundering compliance with federally regulated financial institutions. Some of those responsibilities have moved over to FINTRAC.
OSFI has a cost recovery model and so does the Financial Consumer Agency of Canada. We've looked at the different models of different financial regulators in Canada, and what's being proposed here is broadly consistent with that.