Foreign Affairs committee  Many areas of government do this. When there's a new regulation or they develop new guidance, they have a road show and they explain it to the industry. That is a typical type of process.

Foreign Affairs committee  Better guidance will help banks in their need to be compliant, but it will also help businesses in their ability to grow and do these transactions.

Foreign Affairs committee  I think the recommendations we're putting forward today would be helpful for all participants in the regime from a private sector perspective, including credit unions.

Foreign Affairs committee  I'm going to refer that to my colleague Stephen, as he has more practical experience in this area.

Foreign Affairs committee  Good afternoon. We would like to thank the committee for inviting the Canadian Bankers Association to provide the banking industry's perspective on your review of the Freezing Assets of Corrupt Foreign Officials Act and SEMA. The CBA works on behalf of 59 domestic banks, foreig