Mr. Dermot McCarthy:

I didn't, Deputy; it wasn't something that would have come my way. My main ... in fact, until the period of the crisis, my only engagement with the regulator was in the context of the IFSC, and staff from the regulator would attend meetings with the clearing house group, and I'd have to say my observation in that forum was that they were confident and competent in their interactions. They sometimes came under pressure, which I understand might still be an issue, about things like the timeliness of turnaround of applications for authorisation and clarity about new forms of authorisation and so on, but my observation was that they engaged with those robustly and didn't display anything that would've caused me to doubt their competence at least in those areas that came up for discussion.