Madam Speaker, I have two very quick questions. My colleague quoted the OECD in his remarks, which is important. In fact, with respect to security regulations, it stated:
—each province has its own securities regulator...increases the risk that firms will choose to issue securities in other countries. A single regulator would eliminate the inefficiencies created by the limited enforcement authority of individual provincial agencies.
Why does he disagree with the OECD with respect to Canada having a national regulator?
Also, there have been some real success stories in the province of Quebec and in Canada. Couche-Tard and others have made a lot of investments outside of Canada, namely in the United States. Would the member encourage other countries like the United States to adopt a more regional method of regulating securities like we currently have in Canada or would he want the U.S. to maintain a national regulator to make it easier for companies like Couche-Tard to invest and grow outside the province of Quebec and outside of Canada?