Life & Pensions: There is a growing trend for supervisors (such as the UK's Financial Services Authority (FSA)) to combine a responsibility for retail consumer protection with promotion of orderly and efficient markets. What do you think of this approach?
Florence Lustman: In France the situation is very clear. Prudential supervision is organised in order to protect policyholders. You can have a problem if you have parallel goals because you can have a conflict between these different goals.