I don't know exactly what the state of the conversation is between, say, the Department of Finance and the provincial regulators, but what I do know is that this framework is being designed in a way that respects the authority of the provinces.
There are many ways that is being done. For example, it's an opt-in framework. We have provincially regulated entities in our membership, and from our conversations with them, they don't think this will create any problems. Provincially regulated entities can always decide not to participate if they don't want to, but for many provincially regulated entities, the requirements they must meet under provincial oversight are already quite high. I don't think they will be superseded or made more onerous by Canada's open banking framework.
I think there could be an opportunity to recognize some equivalency so that certain provincially regulated institutions don't need to jump through a bunch of new hoops, because they have effectively already jumped through them.