Mr. Speaker, my question is for the Acting Prime Minister. The federal government recently announced its intention to establish a Canadian securities commission. Meanwhile, provincial securities commissions are currently putting in place a co-ordinating system, known as electronic document analysis and retrieval, or SEDAR, to ensure a true integration of financial markets. In that context, the Canadian commission will very clearly be another useless and costly example of overlap.
Given that the provinces' co-ordination work is already well under way, will the minister finally recognize that this initiative is totally unnecessary and that the federal government is more interested in asserting its authority in an area that comes under provincial jurisdiction than in promoting financial market effectiveness?