Mr. Speaker, when the New York Stock Exchange merged with Euronext, each institution kept its regulatory framework. The merger did not result in the creation of a single regulatory body. According to the World Bank and the OECD, the current system is working quite well and studies show that a centralized system would be more expensive.
In light of these facts, will the Minister of Finance admit that his true objective is to centralize all financial activities in Toronto in order to benefit his friends on Bay Street?