Mr. Matthew Elderfield:

I have worked for three regulators and we have always had this struggle for retention. When a regulator states he or she wants to examine an issue or it is a hot topic, then a job market is created for it and all the staff working on it become very attractive and poachable. We have done relatively well. We have had some difficult areas of turnover. I would say in future it could well be a difficulty. When the market starts to get hot, we will have pressure and there will be a need to have more flexible ways of thinking about retention of staff in future.