Mr. Bernard Sheridan:

I agree, but the primary responsibility rests with the individuals running the firm. We cannot guarantee that there will be no failures. The Deputy is right that a great deal of the supervisory framework is about how it is implemented. The framework will be strengthened. We have already strengthened it post other issues with other firms while Solvency II will strengthen it in the wider European context, but that is no guarantee. It is how that is implemented that is key. I agree with the Deputy that it is down to supervisory authorities to implement that.