Mr. Ed Sibley:

In terms of the timing of our work in that specific example, it was impacted by the court process having to be gone through including with the firm and all the way up to the highest court in the land as Mr. Sheridan has said. To ensure that we are clear, we have been working really hard, led by consumer protection but also supported by our enforcement colleagues and banking supervision, to ensure that this issue is dealt with, that no more harm is caused and that consumers and customers are put right. We are identifying where there have been issues and then addressing redress and compensation as appropriate and ensuring that there is an appropriate structure and framework to go through which is suitable and at the right level for the harm that has been caused to the borrowers. We are identifying a mechanism in place for those borrowers to appeal and to get free independent advice on what they have been offered and beyond that into the courts if appropriate. That has worked reasonably well. The fine in terms of enforcement action is likely to either run alongside or come after that. It is not the fines first. The most important thing for us is to stop the harm to consumers and ensure that they are put right. Alongside that, we are then running enforcement investigations to see what the root cause of the issue was and to take the appropriate penal action in terms of the banks.