Mr. Speaker, in a time of open federalism when we work well with the other governments in Canada we can certainly share our efforts with respect to securities regulation. The proposal that is being discussed is indeed that. It is for a common securities regulator, not a provincial securities regulator and not a federal securities regulator, around which all governments would be represented.
The whole purpose is to serve the people of Canada, including seniors in Canada with respect to their retirement investments, to make sure we have good capital markets in this country that are fluid and that work well for all people in the country.