Mr. Speaker, I was just saying a few moments ago that it would seal the fate of the Autorité des marchés financiers du Québec, which oversees the entire regulatory scheme. We are told it will be possible to decide whether to register with this single securities commission in Canada. At the same time, you know very well what will happen: interest will shift to the single Canadian securities commission. It will effectively seal the fate of Quebec’s way of doing it in terms of the approach that is unique to Quebec and is recognized by a number of European actors in the financial world. In fact, the European Community models its approach to securities regulation on that approach. This is so simple to understand that I fail to see why the government stubbornly insists on diverting interest to Ontario and disappoint a number of other provinces.
Centralization in Canada is not the way to go in some areas. We are witnessing a demonstration of this, of how this Conservative government, which had promised openness to Quebec—and I might also say to the other provinces, but especially to Quebec by recognizing the Quebec nation—does not acknowledge its way of seeing things.