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New Corporate Enforcement Authority Established In Ireland – Corporate and Company Law

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The new Corporate Enforcement Authority (CEA) has been
established following the commencement of the Companies (Corporate
Enforcement Authority) Act 2021. The CEA is tasked with
investigating and prosecuting company law failures and replaces the
Office of the Director of Corporate Enforcement (ODCE). The reforms
introduced by the Act enhance the investigation and enforcement
capability of the CEA and are expected to lead to an increase in
enforcement activity around company law offences, as well as
changes in the way that those failures are investigated. You can
read more in our briefing here.

“Today is a really important day for corporate enforcement
in Ireland. The Corporate Enforcement Authority is now officially
established. We’re giving it real teeth, making sure it has the
autonomy and resources to thoroughly investigate suspected
wrongdoing, such as fraudulent trading and larger, more complex
company law breaches. We’re increasing staffing levels by
nearly 50%, including doubling the number of Gardaí. The
Authority’s budget has also been increased by almost 30%.”
Tánaiste, Leo Varadkar

This article contains a general summary of developments and
is not a complete or definitive statement of the law. Specific
legal advice should be obtained where appropriate.

POPULAR ARTICLES ON: Corporate/Commercial Law from Ireland

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