Mr. Speaker, I am glad to hear my colleague say that he is concerned about the provinces.
If he is so concerned, then he should listen to Quebec and the provinces. Positions were adopted unanimously by the National Assembly of Quebec, which said that it wanted to regulate securities itself. This system works very well.
As I said in my speech, according to the OECD, Canada has the second most efficient securities system. We are also a top performer when it comes to securities regulation. So why change things all of a sudden? There is no reason. Absolutely nothing about the Minister of Finance's proposal proves that the system would be more efficient if it was centralized. That is not true. The system works. My Liberal, or rather Conservative, colleague—