Thank you, Mr. Chair.
I'd like to begin by pointing out that this will be the final meeting of this committee to be attended by my parliamentary intern, Sonja Tilroe. I'd like to thank her because whenever we manage on occasion to look good in committee, it's because of the people working hard for us behind the scenes. I also would like to thank her for the excellent work she has done for me and my team. I'm also aware that other parliamentary interns contribute to the work of the committee. Sonja will have an opportunity to help other teams.
My question is for Mr. Oliver of the Tetra Trust Company. I met some Tetra representatives in Quebec, who told me that Tetra was the only regulated custodian for crypto assets in Canada.
The issue of assets that remain in the hands of owners, but that have an impact on operations, is a very important one. Indeed, when a company holds its assets in Canada, it deals with Canada's Autorité des marchés financiers, and must demonstrate transparency, comply with audit requirements and provide proof of reserve audits twice a year. That's what I took down in my notes. The end result is that too many Canadian firms send their assets to the United States, where governance is subject to American statutes, which, of course, are not so clearly defined there.
I'd like you to tell us a little more about the importance of leaving assets in Canada and the risks incurred by investors when assets flow through the United States.