Mr. William Prasifka:

If the rule is changed so there are more complaints, there will be a resource issue and this is obvious. If we have a standard which requires a mini-finding, this will also have resource implications and will also perhaps cause delay in reaching a final determination. What must also be kept in mind is it must be considered in a larger framework. The consumer protection code requires financial institutions to keep records for six years so if we are to look beyond this, it must be taken into account. If we are faced with a complaint relating to matters which took place not six years ago but ten years ago or longer, it puts us in a difficult position if the basic evidentiary material is not available, such as if people are claiming their rights under a contract or policy which no one has or can find, and this must be considered. As I stated, it is very appropriate that we examine this matter and whatever the Oireachtas comes up with, I assure the committee we will adjudicate complaints on that basis in as fair a way as possible.