We have established a good track record of taking cases against financial services firms for a wide range of breaches. In the last three years, the Central Bank has concluded 30 administrative sanctions cases and imposed approximately € million in fines. We can see the benefit of this in terms of behaviour in the industry.
These are expected to be available for public debate by March / April 2008. I would urge all analysts to refer to the previous reports and comment extensively on the CFSA report in April to guide us on further policy initiatives.