Mr. Speaker, by concentrating the regulatory process in one national securities regulator there would be a lot more synergies between the finance business across Canada. It would be a great way to ensure we have people from across Canada who understand one system and it would make our markets much more efficient. As the hon. parliamentary secretary referred to earlier, it would make our markets safer and our regulatory requirements more enforceable if we had one national securities regulator.
It has often been stated in the financial media that some of the offences that have been prosecuted in the United States, for example, do not succeed currently in Canada but would succeed if we had a national securities regulator.