Ms Seána Cunningham:

In this context, another key element to focus on is the enhancement of a firm's obligations under fitness and probity. That is the reason for the introduction of the certification proposal. While we already have an ongoing obligation to assess the fitness and probity of people involved in key functions, the general scheme envisages enhancing that further in the context of a firm's own role in that assessment. That would be a certification process which we think would be helpful as we move forward. Mr. Cross talked about the Central Bank's assessment of the statements and maps of responsibility. These will be enormously beneficial, particularly in a supervisory context. It is being approached in two different ways because there are also enhancements of how the firms will be required to look at and assess on an ongoing basis the fitness and probity of people in their employ.