Mr. Speaker, I am pleased that 10 Canadian provinces and territories have been working and participating with the transition office federally to design the future Canadian securities regulator. It is a highly decentralized recommendation.
The plan they are working on, which is available to the hon. member to read if he is so inclined to learn about what they are planning, is for a highly decentralized regional system. We have areas of expertise across the country in various aspects of securities regulation, and we are going to make use of those opportunities.