Mr. Liam Sloyan:

In the opening statement, we set out our view of the importance of conducting investigations in private in terms of people bringing complaints to us; the impact of having the default option that everything is done in public might have and the impact that might have on the number of complaints. Would we receive 5,000 complaints a year? Would we have this insight into the operation of financial services? Our view is that we would not. We also have the view that the insight we get from the 5,000 complaints we receive is important to the operation of the financial service and pension sectors in Ireland, including the decisions that we publish and the information about them, as well as the referrals to regulators and our ability to discuss things with this and other committees here.