Mr. Gerry Cross:

As there are complexities, the Deputy will forgive me if my answer tries to address some of those complexities. There is the issue of how we, as a jurisdiction across Europe, approach the schemes of tax evasion, avoidance, etc. We do not have a specific tax remit per se.

That is what we were trying to convey in our response to the EBA. However, and this is very important, we absolutely do have that mandate and remit in regard to regulated financial services firms and, as Deputy Mairéad Farrell said - and I could not agree more - this is not a victimless issue. This is not something to be accepted as part of business. That is not the case. As already stated, this type of activity raises questions about regulatory compliance, culture, conduct, behaviour, the fitness and probity of the people who are doing it, and so on. I cannot comment on individual cases; that is not permitted. What I will say is that in our supervision, we need to engage with all of the facts as we find them. We need to understand what happened, what did not happen and what the case was. That is as much as I can say. I fully agree that this is not something that is somehow outside our mandate or that we would not at all be worried about.