Ms Seána Cunningham:

It will not preclude it. It does allow that there could be an investigation into a firm and an investigation into an individual. We have prohibited individuals under the fitness and probity regime with consequences. When we look at the conduct of a particular individual in a particular firm the consequence at the end could well be, and has been, that the person is not allowed to hold positions in any regulated financial services provider. This is provided for. There is a similar consequence in the context of an administrative sanctions procedure investigation, whereby a person is disqualified from being a person concerned in the management of any regulated financial services provider. It not only deals with the conduct investigated, it also prohibits somebody holding any other position in financial services, which is a very important consequence. When we identify an issue with an individual we look at it in total, as we would from a sectoral perspective in our supervisory work, to see whether something has broader application. I hope this answers the question.