Paul Connaughton (Galway East, Fine Gael) | Oireachtas source

I will conclude with a final point because other members are champing at the bit. Mr. Elderfield will leave his post in October. He stated earlier that "as a supervisor one is almost always playing catch up with industry and it is dangerous to think one will get to a point when one can rest on your laurels". Is he concerned by the fact that in the past six months certain individuals have complained about the level of regulation that has been put in place in the past three years? I refer to John Bruton of the IFSC, individuals from the SEC and Michael Somers. Mr. Elderfield made the point that one can never rest on one's laurels. Is he concerned that when he leaves his position, we may slip back to where we were previously? Will he have any input with regard to the appointment of his replacement in the context of ensuring we remain on our current track? If he had been in position prior to the financial crisis, would that crisis have occurred?