Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
IRELAND’S CORPORATE WATCHDOG is about to be overhauled in an effort to make it more effective in pursuing white-collar crime.
The government today announced a range of measures it is planning to take in an effort to combat corporate wrongdoing.
Among the most eye-catching is a pledge to revamp the Office of the Director of Corporate Enforcement (ODCE), which came in for harsh criticism after the collapse of the case against former Anglo Irish Bank chairman Sean FitzPatrick.
It was found that the ODCE staff had destroyed evidence and coached witnesses during its investigation. Jobs Minister Frances Fitzgerald, who was formerly justice minister, said that the ODCE was “not fit for purpose” after the case fell apart.
Tánaiste Frances Fitzgerald there are ongoing discussions with the Attorney General about the review into the ODCE and its role in the FitzPatrick trial.
As part of the overhaul, the ODCE will be made an independent agency rather than a state agency with the aim of giving the organisation more autonomy and flexibility in how it operates.
The government also promised that the body will be better able to recruit expert workers. This has long proved an issue for the ODCE, which was recently said to be suffering from “dangerously low staffing levels”.
The changes to the ODCE will need legislation in order to ”facilitate a transition to a more adaptable and specialised company law enforcement entity with responsibility for company law enforcement”, a government report said.
The minister said the new agency announced today will be similar to that of the Revenue and the Consumer Protection Agency, stating that there were will be a chief commissioner and two other commissioner heading up the new body.
Under the Companies Act 2014, the agency already has a number of powers, said the minister, though she said the government would not rule out beefing up their powers if that is needed.
“You have to stay very alert with changes in this area, and keep up with international best practice,” she added.
Payments fraud
As well as the ODCE change, a new agency task force will be established to address payment fraud, such as credit card fraud, which is being increasingly carried out by sophisticated criminal enterprises.
The new task force will operate for six months and its findings will feed into a Department of Justice review of anti-fraud and anti-corruption structures and procedures.
Other measures that were announced include new laws that will make it easier to prosecute insider trading, rules to targets lobbyists who may attempt to bribe influential figures and a crackdown on money laundering.
Justice Minister Charlie Flanagan said will incorporate some of the recommendations following the Mahon Tribunal, with new laws clamping down on bribes and “kick backs” with penalties of up to 10 years in prison, and unlimited fines.
Other legislative changes in the Criminal Procedures Bill will allow for pre-jury trial hearings, and reduce the timeframe for white-collar crime cases.
He said juries are given a whole raft of complex evidence in the forms of transcripts, graphs, recordings, account summaries in a more accessible format which he said will ensure that jurors have a better understanding of complicated corporate cases brought to trial.
Ireland is also signing up to a common reporting system, whereby if someone is attempting to hide a particular asset in another country in order to avoid their tax liability, the Revenue will automatically be permitted to share information with other tax authorities in other countries.
Despite the ministers stating that a whole of government approach was being taken against white collar crime, there was no mention of a new anti-corruption agency being established.
The idea, first put forward by the Social Democrats, was mooted during the Fine Gael leadership contest when Simon Coveney suggested a new anti-corruption agency could be set up, which would also probe politicians and judges.
He said officials would be prosecuted if found guilty of corruption or misuse of power in office and civil servants would also be answerable to such an agency.
Varadkar pushed aside such an idea, stating that there was a dedicated section in this area in the ODCE and the garda fraud bureau.
The soon to be Taoiseach said at the time that there was “enormous and understandable anger” among citizens on the white collar crime issue , adding: “We need to see white collar crime in Ireland treated in the same way as the United States.”
Varadkar has also criticised the performance of the ODCE, stating:
“I don’t think they are performing to the level we would expect” and joked if criminals Do confess they only speak “to priests, not to the authorities.”
He added that he is “frustrated at our inability as a country to secure more convictions when it comes to corruption and white-collar crime”.
“Corruption and white-collar crime damage our economy, breed cynicism in our society and are a threat to our international reputation.”
With reporting by Christina Finn. Written by Paul O’Donoghue and posted on Fora.ie
To embed this post, copy the code below on your site
It’s a sad day with both Marion and Larry gone.
@The digenous: rte will even more blander then it already is..
@Victor Feldman: Indeed Victor. In my opinion the only good thing from RTE is RTE Gold Radio,of which the late Larry was part of.Brilliant music from across the decades but !!! Their going to fcuk that up as well shortly.
@Victor Feldman: ‘will even more blander’…at least get your basic grammar right if you’re going to try and claim the high ground.
@Alan McArdle: Don’t be the arsehole Alan.
The pain John Clarke is feeling breaks my heart. As much as Marian was admired as a broadcaster firstly & most importantly of all she was a wife & a mother & nobody can ever fill the void she has left in John & Jack’s lives. My thoughts are with them tonight. It is sad to think that one of every couple will have to go through what John is going through at some stage of their life’s so be kind to bereaved friends & family, the heart break of that kind of loss is not easy to get through. Rest in peace Marian.
@Mary Cullinane: well said
Not really surprising – she would have been 70 this year, and was going to be a grandmother soon, probably wanted to spend more time with family.
Plus after 45 years with RTE, no doubt felt she had done her share. She did more than her share.
Rip Marian, a national icon….Mr. Clarke, you are dignified gentleman. A real man….Rip, Gerry, Tony, Uncle Gaybo, Marian, and Larry.
She came to my rescue in my dreams one night over the Christmas. Fíréan ab ea í. Ar dheis Dé go raibh a hanam.
@lisa duignan: Why are you writing in Polish? Get a grip please!!!
@james dimaggio: Irish
That was the first microphone drop of 2020. What a beautiful eulogy from someone who loved his parents for 40 years.
@Aonghus OReilly: his partner.
So very sorry to hear of Marian’s untimely death…..God rest Her.
I will miss hearing her lovely voice on RTE.
I’m so very sorry to hear about Marian’s passing. My partner is a big fan of her broadcasting but unfortunately he suffered a brain haemorrhage on the morning her passing was announced and he’s still in ICU. It’s honestly one of the things I’m worried about telling him when he’s further in his recovery and less confused than right now. May Marian R.I.P. Thoughts with her family and loved ones x
have your say