Mr. Marc Coleman:

We do not have the data to hand at present. We are happy to get it in the next couple of days and communicate it to the committee. FSI's concern is less on the quantity of authorisations and more on the efficiency and proportionality. When it comes to the authorisation process, as the Deputy indicates, authorisations should be proportional to the change in the nature of business and the size of business being brought in. That is where we would like to be as helpful as possible to the Central Bank in improving knowledge and understanding of industry. I have a degree of sympathy for the regulator's position because industry is changing very rapidly. FinTech and dynamic change within the industry and moving boundaries between different sub-sectors present all regulators with a challenge.