Richard Bruton (Dublin North Central, Fine Gael)

A report published earlier highlights a high level of non-compliance with elements of the disclosure provisions of the code of corporate governance and a recommendation that the code should be enforceable in law. Does the Taoiseach intend to incorporate such enforcement in one of the forthcoming companies Bills because it is important in the context of regulatory confidence in Ireland that we have a regulatory regime that applies to all quoted companies?

I refer to the new regulatory legislation he has promised. Am I to believe the only investigation into regulatory failures is being undertaken by the regulatory authority itself? Does the Taoiseach agree that is a hopelessly deficient approach to resolving our regulatory failures? One cannot expect an agency to be judge in its own case or to be the only body hiring consultants to assess what needs to occur. Could we have a proper, independent assessment, which would inspire confidence that the new regime will be based on much broader consultation than that undertaken by those who have been found to be defective in their roles?

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