Thank you, Mr. Chair.
My first question is for Mr. Gray. You were talking about insider trading and describing how it would take place. It sounded like it was basically how it would happen on a provincial...or a security system that is already in place. How does the CBCA work in conjunction with provincial securities regulators? Are there any areas of duplication between federal and provincial that need to be addressed over and above that, just to avoid confusion more than anything else?