Ms Derville Rowland:

There is a difficulty. The enforcement process drives at proving breaches of regulatory frameworks and holding the lender, as well as any person concerned in management who is responsible, to account. There are sanctions at the end of the process, including fines and disqualifications, but there are other options available. However, it is an elongated legal process, the object of which is not always about the individual but about the behaviour of the financial services industry in that environment. In all conventional systems, the set-up, in this country and others, is for individual cases, where it is entirely about the person, to be brought case by case basis to Financial Services Ombudsman. That is when they can look at compensation and all aspects of the issue of detriment.