Professor Philip Lane:

I again emphasise that I agree that our track record is the most important element in building that trust. Ms Rowland highlighted all we are doing and the number of enforcement actions we have concluded in public. Some of our work must be conducted in private. We cannot make public that a particular person attempted to join the board of a firm and withdrew or was not approved by the Central Bank, but such situations happen all the time. We disclose the numbers of such cases in aggregate, but for various privacy reasons we cannot identify the persons involved.

There will always be a certain amount of our work which we can announce publicly. In recent years, when an individual may face a prohibition and that process may legally be pursued either publicly or privately, we usually pursue it in public. There are periodic announcements that certain persons have received a prohibition, and we want to make our work public when that is possible. We have that commitment to what we do.