Ms Jacqueline Thornton:

Ms Murdoch mentioned the UK. I primarily worked in regulation in the UK. I spent a good decade arguing with the Financial Conduct Authority, the Prudential Regulation Authority, and the Financial Services Authority before that, on transparency and predictability and how they do not go far enough. When I came to Ireland I saw the Central Bank has even less. Ms Murdoch spoke about bringing in a new regulatory initiative. There is recovery planning and resolution and what companies will have to do. These initiatives are assessed in terms of how much it will cost firms and the benefits it will bring consumers and the market. We do not get that. We would like to get it.