Okay, so let's start with the first lesson that I think we've learned from the first roll out, and that links very well into that first polling question, is that it's important not to underestimate how long it takes to actually get ready for this regime. It's important to understand, I think, that this is much more than a replacement of the approved persons regime, and it's far more than purely just a compliance exercise. It's going to involve a lot of people across the firm, people working in HR, corporate governance, people who are involved in training compliance senior management, so it requires a different mindset. And as I say, a considerable number of people to be involved in the project, and considerable changes in things like corporate governance, employee assessment, breach reporting, infrastructures, et cetera. So, we'll come back to what that looks like later in the session, but starting now, is obviously, or to have started already, will certainly put you in a good position for implementation. 

Okay, so if we move on to the next slide and look a bit more at the new way of working, as I say, this is a real change of mindset. So, senior managers will have greater personal accountability and responsibility for what happens in the firm, particularly within their statement of responsibility, and we'll look a bit more at that a little bit later, but increased individual accountability and responsibility across the firm. And this will be a new concept for many employees, so that individual accountability and responsibility will apply beyond senior managers and certified persons to all conduct rule staff. So, there'll be some people who will not be used to the concept of having personal obligations to the regulators and will obviously feel anxiety around that as I mentioned earlier. So, I think it's important to acknowledge that and to address that in your communications. 

I think that anxiety is particularly over the materiality of conduct rule breaches and things like the regulatory references that are also part of the regime. So, it's important in the communications that you give out, it's important to make sure that those matters are addressed.