Mr. Vasileios Madouros:

We generally review our measures periodically for some of the big policy interventions. On the Deputy's specific point, one of the important policy agendas in Europe and here is the simplification agenda. That also has implications for financial regulation. We are actively engaged with it, with our colleagues in Europe and domestically, and it is an important priority for us. We want to look at this and consider how we can simplify the dimensions of our frameworks in a way that delivers benefits, but also being clear that simplification should not lead to a reduction in standards, because the two are very different.