Ms Derville Rowland:

As we did previously, we strengthened the regulatory framework which puts the right rules and requirements in place. That is something we have done and we continue to do over time. It is my intention to look at the consumer protection code that is in place now and further strengthen it with a big piece of work that might take multiple years, actually. It will bring into place the idea of segmentation of customers, digitisation and how the modern world interacts with customers. It will cover how the regulatory framework is future-focused and best fit to provide a framework through which all providers of financial services engage with customers, whereby the requirements help us all to get the best positions out of our interactions with the financial system. We continue to look at the regulatory framework. The second building block of regulation is assertive, risk-based supervision. I will ask my colleague, Ms McEvoy, who is director of consumer protection, to tell the Senator about how that works now.