I don't have an estimate on the workload. I would echo comments by Mr. Beaudoin. From a strictly anti-money laundering perspective, more information is better.
However, in terms of providing advice on anti-money laundering policy, we always look to the administrative burden and whether something is “implementable”, if that's a word. I can't speak to this piece of legislation, but on an anti-money laundering side, I would say that, if we were to look to lower the current threshold of 25% to 10%, I would want to undertake consultations with reporting entities to understand what that means to them in terms of their administrative burdens.
In the context of this beneficial ownership, I think it would also be important to understand what the perspectives are of the provinces. If you have a federal regime with a standard of 10% but the provinces have already mostly signed on to a level of 25%, just understanding their perspectives would be important to me in providing advice so that I would understand the impact of their being willing to buy into a pan-Canadian solution. I'm not saying what their views are. I'm just saying that would be a consideration from my perspective.