Clearly, for a parliamentarian, seeing an association appear before a committee and come down hard on a person close to the Prime Minister, deeming it unacceptable for that person to sit on a board of directors, is quite something. Furthermore, that association is telling committee members that it isn't even asking the Prime Minister to regulate the sector. It doesn't make sense.
Consider the case of credit cards in Europe. As you know, the European Union and Canadian credit card systems don't work the same way. We can look at English‑speaking countries such as Great Britain and New Zealand, or the United States. The United States Federal Reserve recommended regulations. When we look at the interchange rates in OECD countries, Canada is roughly in the middle of the pack. Countries whose fees are lower than Canada's have regulations, while countries whose fees are higher than Canada's generally don't have any regulations.
Doesn't this somewhat contradict your approach whereby it's enough to make life hard for companies that disagree with you in the media and to adopt a code of conduct? Are you open to possible regulations?