Patricia Ryan (Kildare South, Sinn Fein) | Oireachtas source

I welcome the establishment of the Office of the Director of Corporate Enforcement as a statutory stand-alone agency to be known as the corporate enforcement authority, CEA, with increased autonomy and resources to respond to white-collar crime in Ireland.

I thank my colleague, Teachta Quinlivan, Chairman of the Joint Committee on Enterprise, Trade and Employment for his work on the committee. For too long, white-collar crime has not been pursued as vigorously as it should be. Corruption, so-called white-collar crime and the perception that they are not adequately detected and punished are damaging to our economy and threaten our international reputation as a reliable place to do business. There is a widespread view that crimes like these are not as much of a priority because of the wealth of some of the participants. This needs to be addressed. It is important that ordinary members of the public have confidence that white-collar crime is treated with the seriousness it deserves. Our approach to such crime must be evident in the structures that we put in place to deter it and in the resources that we apply in dealing firmly with such crime where it occurs. We need appropriate legislative powers and funding to ensure that the agency delivers what it will be tasked to do.

The ODCE is being reconstituted as the CEA in a commission structure with a larger specialised staff and an increased budget. One of the key elements of this new structure will be the increased number of specialist gardaí seconded to the CEA. The availability of their knowledge should ensure that a more functional structure can properly investigate suspected breaches of company law in a more timely manner than previously seen. Addressing economic and white-collar crime is vital in demonstrating that nobody, regardless of their resources, is above the law. We need to see more effort made to implement the recommendations of the Hamilton report. There must be wider investigative powers to help the CEA to achieve its aims. The promised investment must be delivered, including the assignment of 14 additional staff and an increase in the permanent complement of members of An Garda Síochána from seven to 16.

Everyone acknowledges that the ODCE was understaffed and underfunded. There can be no more excuses. This agency must be delivered. We must not forget the other recommendations of the Hamilton report, including that the CEA must prepare a strategy statement as soon as possible after its establishment detailing its key objectives and output for the following three years. We must also ensure that it is regularly reviewed and updated.

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