Renua vows law reform to jail ‘reckless’ bankers

One of the newly-established opposition parties has vowed to jail “reckless” bank directors for up to 10 years, pay whistle-blowers a percentage of any money retrieved and create a special corporate criminal court to tackle white-collar crime policies — if elected to government.

Renua Ireland said it will introduce the raft of potential legal changes if it forms any part of a future coalition, arguing that current laws are failing to do enough to ward off the risk of further Celtic Tiger-style era financial scandals.

Speaking at the launch of the white collar crimes’ policies at Leinster House, in a week which has seen growing public frustration that the bank inquiry is struggling to uncover what caused the crash, party leader Lucinda Creighton said such proposed measures are needed to get tough on the financial sector.