Mr. Chairman, the short answer is that high levels of standards and policies have always been in place. We discovered they were not observed as strictly as we had expected they would be. So in the new model for HSBC, we have implemented a compliance assurance function, which sits at the global centre, whose sole task is to go to the various subsidiaries to ensure that not only are the policies and procedures in place, but they're being observed.
On March 21st, 2013. See this statement in context.