Mr. Ger Deering:

The simplest way to describe it is that the Central Bank is the regulator in the sense that it makes the rules. If the Central Bank finds a problem, it conducts an enforcement activity across the entire organisation or the entire industry, whereas we deal with individual complaints. We cannot act unless we have a complainant. Whereas the Central Bank could go in and conduct a broad sweep about something, I suppose we are more responsive. It is only where we have an individual who has a complaint against an institution that we can act.