In previous speeches, I spoke about the importance of a well-functioning financial system and about the need to support the efficiency of our financial institutions. I also spoke about the need to promote efficiency in the regulation of securities markets and about the role that Canada's pension system can play.
The range of solutions does not take into account the scale of the financial and demographic challenges that exist in the firms’ LTMA portfolio. This is not just a case of requiring better use of existing waterfalls (as above), but consideration of whether the suite of solutions is sufficient.