Mr. Ger Deering:

I am familiar with the concept of regulatory capture and I assure the Chairman that there is no question of that. We engage with BPFI to avoid, more or less, what the he is commenting on. We would prefer to meet in that forum rather than meet individual financial service providers. This is an open and transparent meeting from our perspective where we set out the issues. For example, in March this year, I pointed out to them the need to examine how they were dealing with time limits in tracker mortgage complaints. It did not have the impact I desired at the time but we deal with such business matters. It is an efficient way of doing it but I assure the committee that it does not in any way influence or have an impact on any decisions or the operation of the office.