Mr. Bernard Sheridan:

For any firm authorised in Ireland and selling products in Ireland, we are responsible for its prudential supervision, its solvency and its financial situation, as well as how it conducts its business with Irish consumers. If it is a firm that is authorised in another EU country and is selling into Ireland, either on a cross-border basis or a branch basis, the prudential supervision of that entity rests wholly with the home regulator - in this case the Maltese financial regulator.