There are two sides to it. The regulatory process is an 18- to 24-month period. I had mentioned earlier the consultations, the engagement, the analysis, and the process and that does take time. At the same time, we are seeing an impact, I think, in the early days because we have implemented that small business lens and that administrative burden lens as we develop our regulations. I think we've heard from stakeholders that they are aware that we are more mindful not only of the administrative burden in our regulatory development, but also in the development of our guidance documents and also our operations. Whether that is taking a phone call and not transferring a stakeholder to another part of the department 16 times, there has been a significant culture change but a regulatory process does take 18 to 24 months.
On December 2nd, 2014. See this statement in context.