I hope you have found it useful to hear how the new framework fits within our overall approach to regulation, which is based on the principles of proportionality, predictability, and reasonable expectations, and which leverages the way that firms have chosen to structure themselves, while ensuring that such structures have appropriate levels of governance and clarity.
My colleagues and I look forward to hearing your views and taking your questions. 1Sparrow, M. The Character of Harms (2008, Cambridge University Press). 2Behaviour and Culture of the Irish Retails Banks 3Oliveira, Walters and Zamil, When the Music Stops: Holding Bank Executives Accountable for Misconduct (2023, BIS  Financial Stability Institute).