Thank you, Mr. Chair and committee members, for allowing me to speak here today. I will take that question.
We're not critiquing the sanctions regime and we're not even here to critique the amount that it costs to comply with the sanctions regime. We're happy to do that in the sense that we understand the policy considerations and we're good corporate citizens. However, I will say that it is significant. It's substantial. We're not the biggest of the big five banks, but easily we spend millions of dollars a year in compliance. We're constantly cognizant of having to upgrade our systems, our processes. We have significant numbers of people and resources devoted just to reviewing sanctions and processes.
If you could indulge me just for two minutes, maybe I'll describe at a high level—