Legal

Modern corporate watchdog should work with and against those it regulates, says Attorney General

Rossa Fanning says reformed CEA should explain the benefits of compliance to firms and not focus solely on non-compliance cases

Rossa Fanning, Attorney General: “Overall, it can be fairly said that when functioning as envisioned, a modern regulator such as the CEA acts at least as much in tandem with, as it does in opposition to, those it regulates. Picture: Sam Boal / RollingNews.ie

A modern company watchdog must work in tandem with, as well as in opposition to, those it regulates in order to ensure respect of a “social bargain”, the Attorney General has said.

Rossa Fanning SC said that the work of the Corporate Enforcement Authority (CEA), Ireland’s recently reformed corporate regulator, was designed to respect this bargain, which he described as the balance between the privileges of incorporation and the benefits of such incorporation to society.