Ms Seana Cunningham:

The way the proposal is framed is that we are seeking to amend the current administrative sanctions regime under which there are a range of sanctions we can apply to individuals, including a monetary sanction of up to €1 million, a reprimand or a disqualification. It is about having a framework that allows us to take action directly against an individual rather than necessarily through the conduct of the firm. These are the sanctions that are then available to us when we investigate and find that breaches have been committed.