Madam Speaker, I listened to the speech given by my hon. colleague, whom I knew in the past as the chair of the Standing Committee on Finance when Mr. Martin was the finance minister. Today he is telling us that a good securities commission system is needed. He is not specifying exactly what kind of organization is needed.
Does this mean that he finds the current system to be effective, as the OECD has said? The OECD ranked our system as second in the world in terms of efficiency. There is a consensus in Quebec to the effect that the existing securities commission should continue its work. That is the unanimous consensus of the three parties in the Quebec National Assembly and the entire business community.
Does he not find it inappropriate that this federal government decided to include the creation of a centralist approach to securities regulation in a budget implementation bill? Will the path of non-participation, the voluntary choice of companies, not simply nullify the jurisdiction of the Commission des valeurs mobilières du Québec as it currently exists and as desired by Quebec society as a whole?