Ms Brenda McVeigh:

Originally, this was a directive but it will become a regulation. Insofar as these issues are there, they are coming to the fore now. I have sat in EU meetings where every member state has raised the issue of family members and associates, what constitutes both those things and how far we should go. This issue is not just local to Ireland; all member states are feeling the pain of this. The consensus seems to be that in a balance of interests, family members and associates have to be included. My sense of it, although it is only my sense, is that means that enhanced due diligence, which is what we are talking about here, is going to become more the norm. It will not just be experienced by, for instance, as the Chairman said, potentially the child of a politician. I think it will become more the norm for everybody.