Mr. Speaker, the hon. member is right. There has been significant progress among the provinces in working toward a system that will work better for all Canadians and work better for Canadian businesses. That is exactly where we want to go.
We think we can go further together in terms of a common securities regulator for Canada. I emphasize to the member, this is not a federal securities commission; this is a securities commission for all of the governments in Canada. That is what we have been discussing. It certainly would not be a national regulator.