Mr. Speaker, the issue is as part of our economic federation whether it is in the best interests of Canadians across Canada to have one common securities regulator. The issue is not whether it needs to be a federal regulator or a regulator that is created by the provinces.
The point of the discussion which we hope to have with the finance ministers and the ministers responsible for securities regulation next week when we meet together is to address that issue in terms of making sense of our economic federation and protecting investors in Canada and having adequate enforcement, whether it is in our best interests to have one common securities regulator.