One of the key things that can be done by the federal government is to fix the poor wording in subsection 7(3) of PIPEDA, which makes the reporting of financial abuse very, very challenging. Again, if the committee likes, I can provide additional information.
The CSA, IIROC, MFDA and the Canadian Bankers Association are all moving to install trusted contact people as part of the “know your client” principles. That is a good and useful way that the regulatory system is moving forward. What the federal government needs to do is tweak the language in PIPEDA. We've made submissions. It's a very easy fix that would allow reporting to be much more effective for financial institutions.