Mr. Speaker, there was a report by a distinguished group of Canadians some months ago that recommended the process of a single securities regulator for Canada in order to bring our securities regulations in the country into the 21st century.
That is an important innovation to bring into the regulation of capital markets. I am pleased that provincial ministers responsible for this matter are discussing it and seriously at work at it.
I think the hon. gentleman would agree with me and them that it is important for us to have a 21st century system and not one in the 19th century.