Mr. Speaker, the member for Elmwood—Transcona has illustrated that this is an extremely complex matter and certain provinces, and he points out Alberta, have very clearly indicated they do not favour one national securities regulator. Quebec has made that quite clear. I believe Manitoba has also expressed similar reservations.
Given the fact that this matter has been referred to the Supreme Court, it seems to me that at this point we should allow provinces to continue to express themselves and we should wait for the Supreme Court. There is a healthy debate going on and we will find out, in due course, when the Supreme Court pronounces itself. Then we will have a solid basis on which to continue and make a decision.