New ‘more powerful’ corporate watchdog

The Government has pledged a new, more powerful, standalone corporate governance agency will scrutinise business and be better equipped to probe any breaches of company law.

A three-member commission, with its own staff separate from departments and advised by gardaí, will be set up to replace the Office of the Director of Corporate Enforcement.

It is unclear if the ODCE’s current director, Ian Drennan, will remain at the helm of the new agency with the existing staff.