Mr. Speaker, the hon. member forgets that the provinces that do not want to follow this can opt out. Is that a compulsory system? Certainly not. Many provinces have wanted to opt in to a Canadian securities commission. It will replace the provincial securities commissions for those provinces that do want to opt in. It is an excellent measure and one that all Canadians should support.
In the House of Commons on March 4th, 1996. See this statement in context.