The Irish Stock Exchange (ISE) launched seven investigations into suspected breaches of company law after receiving complaints about alleged insider dealing last year.
But in its Companies Report for 2004, it states that it made no report to the Office of the Director of Corporate Enforcement for any suspected offence arising out of these complaints.
Of the seven formal investigations, which can be launched following receipt of a written complaint to the ISE or as a result of the ISE's own suspicions of inappropriate activity, five were deemed not to warrant a report to the Director of Corporate Enforcement.
The annual report gives an update on the number of investigations and/or complaints received by the ISE. As a result, it appears that several inquires into complaints and formal investigations into insider trading are ongoing.
Three investigations, including at least one carried over from the previous year, are classified as ongoing.
The Institute of Chartered Accountants in Ireland (ICAI) said it believed the 2004 report showed that there was an improved level of compliance in the Republic.
The report also includes annual reports from the Companies Registration Office and the recognised accountancy bodies.
According to the ICAI, the 2004 report shows that the accountancy profession remained the subject of "comparatively few" complaints from the public compared to other professions.
While the Companies Registration Office (CRO) had expressed disappointment at its failure to meet some filing targets, the IACI also said an overall filing figure of 84 per cent was a "significant step forward."
"The CRO can also take comfort from the fact that its high profile advertising campaign last year to reduce the amount paid to them in late filing penalties paid dividends with a 33 per cent reduction, from €27 million to €18 million, in fines paid in this area," ICAI chief executive Pat Costello said.
"This year's report confirms the continuation of the high level of activity in the legislative and statutory area, particularly from Europe.
"This trend will undoubtedly continue with the Company Law Review Group scheduled to bring forward a new consolidated companies bill next year."
