Mr. Rob Wright:

They should have had a stronger relationship with the financial regulator. The Secretary General sits on the board of the bank and would therefore be apprised of the overall direction but I know, being a former Secretary General, that it is not enough. With the working level engagement, there would need to be a stronger idea of what is happening and an ability to advise going forward. That was not done enough. There was a line where the Department was often reluctant to second-guess decisions, whereas the Department of Finance should really second-guess anything it wants to. It should have that ambition. That is a lesson going forward, although these systems evolve, and it has been heeded.