Professor Philip Lane:

Short of retrospection to change the legislative environment pre-2013 - that is for the Oireachtas and the advisers to consider - normal legislation operates on a "go forward" basis. For cases post-2013 we have the legal framework and, as we have explained, for cases pre-2013 we are succeeding. It will deliver redress and compensation for many of those involved. We are using our regulatory influence to deliver a lot and save many people from having to invoke the Financial Services Ombudsman and the courts. We do not claim that every single case will be dealt with satisfactorily. There will be decisions that will have to be appealed, perhaps to the Financial Services Ombudsman and possibly the courts, but this process will deliver a lot.