It would be regulations, primarily. I suppose there are some contrary recommendations we could put forth.
First, as the regulations are considered and developed, we recommend that high priority and focus be concentrated on the area of custodianship.
Second, as it stands, Canadian securities regulations leave it to the best judgment of the institution holding customer assets to determine if a foreign custodian should be used. We believe there should be some guidelines implemented to specify the circumstances and the corresponding controls that would allow assets to be held outside of Canada.
Third, harmonization between—