Thank you.
I would say it's very difficult. In fact, it would be almost impossible to forecast how much these illicit financial flows would be reduced as a result of this registry, because the problem is so complex.
What I can say is this: There is emerging evidence coming from the U.K. that shows the beneficial ownership property registry is having an impact on reducing the number of incorporations coming from tax havens. That's one way we can look at the effectiveness of this registry—its deterrence capability.
I believe my colleague from TI Canada can speak more to that effect.