It must be clarified unequivocally that the regulator in the area of consumer interests is a champion of the consumer, not a champion of a balanced position. I have great respect for the present Director of Consumer Affairs but it is extremely difficult for even the best of regulators because the regulator never knows as much as the regulated. That is one reason I would have preferred to see a separation of the prudential regulation of financial services from consumer interest regulation. I am sceptical about regulators generally. I am even more sceptical when there is a perceived or real potential conflict.