Mr. Speaker, Canada is the only developed country in the world without a single securities regulator. That is why we have been working with the provinces and the territories to establish a single securities regulator for some time.
We are pleased to have recently announced the establishment of a co-operative regulator with Ontario and British Columbia. This regulator will promote jobs and growth by better protecting investors, enhancing Canada's financial services sector, supporting efficient capital markets, and managing systemic risk. I strongly encourage all provinces and territories to join in this participation as well.