Mr. Gerry Cross:

Two points are at the heart of this arising from the comments of the Vice Chairman there. First of all, ultimately, the financial system is about people and the service of them. If we look at how we, as a regulator and supervisor, seek to achieve our objectives, that is at the core of it. Therefore, what the Vice Chairman said about prevention being better than cure is completely right and goes back to some of the questions asked earlier. This framework is designed where if one does wrong, one will be held accountable, but more than that, it has the basis for getting the banks, the insurers and investment firms, etc., to do what they do better to prevent the things we have seen in the past. I thank the Vice Chairman.