Thank you very much for that question.
I think colleagues have alluded to that. Something we have done, which is really crucial, is to adopt what we call the beneficial ownership data standard. That's a standard across the country to make sure that our registry would be interoperable with the one in British Columbia and the one in Quebec, and also that the data we would be collecting would also be consistent with that of the Financial Action Task Force of the G20.
You can see that there is a lot of value, going back to the stacking issue and foreign ownership that some colleagues have pointed out. We want to make sure that we have the registry first and that other provinces and territories can jump in and that it could eventually cover, for example, trusts. I think there might be a question about trusts and other forms of incorporation. Obviously this is dealing with Canadian business corporations. We all know that trusts are under provincial jurisdiction, but the day a province would, for example, adopt legislation in that regard, that could be added to the registry of beneficial ownership. It's an open-source kind of framework to make sure that the more we do together, the more information will be available, and that it will also be publicly searchable.
There's a lot of benefit to aligning with international standards—going back to the 25% that the colleague raised—and at the same time to having the beneficial ownership data standard, which is really going to help to make sure that whoever has a registry in Canada will have something that is interoperable.
At the end of the day, the final objective is to have a pan-Canadian beneficial ownership registry in which we have all the information so that CRA, law enforcement agencies, banks, journalists, Parliament and everyone can go and search it. If there are things to identify, people will have the information.