Mr. Gavin Purtill:

At this stage the CMU is very much at a white board phase where it is looking to set priorities. The Commission is very much in listening mode and we are engaging with the Commission. We participated in a workshop with the Commission and the Department of Finance today. The Commission will look to build on the priorities. It is too early to have those kind of concerns because we have not seen the end game. Once we see the end game we can formulate whether there are concerns. However, I am confident that the correct safeguards for protection will be put in place and that the single rule book and the insurance of the convergence of regulatory practices across non-banks and banks, will protect against that.