I don't have any reason to disagree with his assessment. He has a lot of experience and has good people working for him, some of whom are my former colleagues.
I might add, in response to my colleague, and disagreeing somewhat, that I think the bigger hurdle for a political party is meeting the registration requirements. They've become considerably more supple over time as the result of a Supreme Court decision. It used to be that you had to field 50 candidates in order to have your registration come into effect at a general election.
If you're able to meet the requirements for reporting under the law once you become registered, it doesn't seem to me that adding this additional reporting requirement—bearing in mind that these are small parties that are not likely to be having a fundraising event every week or so—is something we should be overly concerned about. I think the potential benefit outweighs the potential discouragement to the further advancement of that party.