Thank you for that question.
Quebec and British Columbia have already demonstrated leadership in this area. The registry we're proposing is appealing because it's consistent with international best practices that have been established by the G20. The registry we want to put in place is comparable to what will be done in the United States, Europe, Japan and England.
We've followed best practices, and I'd even say we've exceeded them. I would remind you that Canada is a founding member of the Financial Action Task Force, or FATF. Once again, Canada has demonstrated leadership, which is why we've asked our colleagues in the provinces and territories to follow the example of British Columbia and Quebec. By the way, the Minister of Finance and I sent out a letter to that effect this morning.
Since we've been working on benefcial ownership with our provincial and territorial colleagues since 2017, I'm satisfied that they'll follow suit and that we'll one day have a national beneficial ownership registry.