Mr. Simon Carswell:

I think stronger regulation rules, coupled with more intrusive actions by the regulatory authorities to understand if they are following the rules and to make sure they are constantly ahead of the curve. As the Senator will know, the financial services industry is very innovative. It will find new ways to make money, so it is a challenge for regulators to stay ahead of that. If one improves the rules generally and improves the action and interaction of the regulator with the banking sector, it will help more than if one sets up a utility bank and leaves the other banks to it. That just makes things difficult in the market.