Mr. Speaker, we acknowledge the work that has been done by the provinces and the territories with the passport system as they have tried to move toward harmonization. Unfortunately, it means harmonization with pages and pages of exceptions.
The reality is that the Ontario Securities Commission is now regulating something like 83% of the business and that is hardly paying respect to the regions across Canada and the involvement of the various provinces.
A number of good suggestions are on the table, including the report by Purdy Crawford's committee last week. I hope we will have some informed and constructive discussions next week moving toward a common securities regulator, not necessarily a federal regulator in Canada.