As I indicated, the issue of safety management systems and regulatory oversight is a multi-modal one, but given the focus here, I will focus on rail safety.
One of the things we've identified through our investigations in the past is that even when railway companies have a safety management system, that system may not be effective at identifying and addressing the risks in their operation. That was certainly one of our findings in Lac-Mégantic. If the company is not effective through its own safety management system at identifying these risks and mitigating them, then it falls back to the regulator, in our view, to identify those aspects of the operation and take action that will be effective at bringing a company back either into compliance with the regulations or to being more effective in addressing the risks.