Ms Derville Rowland:

Perhaps the Deputy and I are at cross purposes. If we are, I am sure the fault is with me and I apologise. To be absolutely clear, this is a fine on Davy, the firm. I perhaps picked the Deputy up wrong in his questioning if he was talking about actions other than that. I want to be clear and do not want to misrepresent anything. This is presented as and is action against the firm, and I will make no comment about action against individuals.

Separately, our recommendation for the applicability of SEAR is that it should extend to banks, the insurance sector and customer facing industries, which would cover Davy. I apologise if the Deputy asked me another question that I have not addressed. If he repeats it, I would be happy to seek to answer it.