Professor Philip Lane:

I will shortly defer to Ms Derville Rowland. As director general for financial conduct, the pursuit of enforcement actions falls under her direction. Individual accountability has been a recurring theme both in our previous appearance before the committee and in its interactions with others. We operate within the existing legal framework whereby the threshold for establishing individual accountability is different than that for institutional accountability. I will be crystal clear in saying that our forensic examiners have an open mind. We look at everything and we do not rule anything out. Deputy McGrath has stated a prediction of what he thinks is going to happen.