Very briefly, the problem for small business—and for large businesses, but for small business—is that this law is too complex. You have a law that's very difficult to read. You have two sets of regulations, and because of all the difficulty, you have a RIAS that is probably longer than every RIAS in history. You have guidelines from the CRTC. Every time I sit down I have to reread it because it's so hard to keep in your head because it's not logical.
I've been in rooms where businesses have tried to figure it all out, similar to the representative from Desjardins. You have 25 people in a room, including five lawyers, going through every kind of email that's sent and trying to figure out if it's a CEM, trying to figure out how you get consent, and trying to figure out if you have the right unsubscribe. It takes that many people to try to figure it out, and you still can't get it right. To impose that on a small business, where it's not understandable.... These small businesses are not securities lawyers or tax lawyers, and this legislation is that complicated. Leaving aside just how onerous it is to comply, which I've dealt with and others have dealt with already, it's so complex that the average small business cannot figure out what they need to do.