Ms Cathy Herbert:

I think they were becoming, to become, as they moved ... I think this was something that developed in September. I think Kevin Cardiff actually refers to it in his evidence as well, they were becoming more doubtful about the nature of the advice. They knew that the advice from the Financial Regulator, the Financial Regulator was relying on the banks for advice, so they began to wonder, and that I think was the impetus for the PwC report.