Kieran O'Donnell (Fine Gael) | Oireachtas source

The banking sector moved from a heavy prudential regulation system, which involved ticks, reconciliations and so on, to a principles-based system which then became light regulation. Is there a danger that regulation in the Internet age will lead to people abusing the principles-based system? The manila folder to which Mr. O'Brien referred, and a person wading through the night taking photographs of files with the small camera, involved physical evidence. Mr. Jennings spoke about trust. Is there a danger that, given the human condition, people will abuse principles?