Professor Philip Lane:

We recognise the risks associated with indirect agents and brokers in general and those associated with having that gap between a bank and a customer. It is a clear risk factor that we monitor. Our consumer protection risk assessment model looks at sales channels and the ultimate responsibility is on the bank, regardless of whether it is selling directly or through an agent. We hold the bank to account to make sure that sales channel is safe for customers. As Ms Rowland said, the sales process is often the key point of vulnerability in ensuring consumer protection. It is a high priority for us, but perhaps Ms Rowland might speak about the issue.