I want to raise a matter that probably concerns every person in the country, given that most people come into contact with the legal profession, in particular solicitors, at some stage during their lives. As the Taoiseach knows, a number of high profile cases are proceeding through the courts. What concerns me is that the credibility of the profession has been diminished by the activities arising from these circumstances. Obviously, at the end of the day, consumers will have to pick up the tab, either through higher solicitors' fees or higher bank charges.

One of the features of concern to me is that the information on some of these cases was brought to the attention of the Law Society as long ago as 2002. In that context, the matter of self-regulation is called into question. I note that the vast majority of practising solicitors I have encountered have done their job as per the requirements of the profession and in an absolutely above-board manner. However, cases where clients' money has been called into question, which is a no-go area for practising solicitors, do down the profession.

Is the Taoiseach satisfied self-regulation is working in the way it should? Will he comment on the report of the Competition Authority, which the Government has had since last December, which recommended that there should be an independent legal services commission to take over the day-to-day regulation of the legal services while leaving the Law Society to represent the profession? This is a matter of genuine concern to many people who do not understand the intricacies of the law or the details with which solicitors must deal. Is the Taoiseach satisfied with self-regulation, which clearly has not worked to the extent it should? Does the Government intend to follow through on the Competition Authority report and implement an independent legal commission to run the services of the legal profession?

The Deputy raised a number of points. I agree the vast majority of practices in the State work well, do not create difficulty and provide a service to individual members of the public and to companies. Self-regulatory bodies the world over, including in this country, tend to move away from this and the idea of self-regulation is seen as something from other times. Most organisations are changing their ways in that regard.

I do not dispute the fact that some of the individuals who are now the source of investigations were investigated a number of years ago and got a clean bill of health. While I am subject to correction, one of those investigations took place as recently as five years ago.

The Competition Authority has considered the profession, which was dealt with in one of the five reports carried out by the authority. That report does not deal with self-regulation but more with issues of competition, numbers and the scale and form of companies, which is not the same area. The Minister for Justice, Equality and Law Reform is examining this area and what has happened.

The position of other professional bodies is relevant. A number of years ago, the accountancy profession moved to a different administrative system whereby a body was established to examine the profession, and that is working well. While I do not want to suggest the Government has made a decision, because we have not and the matter is under examination, the accountancy profession is an area in which such a system has worked very satisfactorily.

The Department of Justice, Equality and Law Reform is considering not only recent cases but also the issue of self-regulation.

Independent commissions of the type recommended by the Competition Authority already work very well in Northern Ireland, England, Wales, Australia and New Zealand, and seem to enhance the reputation and credibility of the profession. Does the Government accept the Competition Authority report in respect of the provision of an independent legal commission to run the profession?

We have had reports on the implementation of regulators and regulations that were supposed to benefit the consumer. Despite having regulators, this clearly has not worked to the extent it should in the transport area, and we have the highest electricity costs of many countries and are way behind on broadband.

Arising from the Taoiseach's response, has the Government considered the Competition Authority's report? Does the Government accept the recommendation for the appointment of an independent legal commission to take over those duties? I pose the question in the context that everybody has to deal with their legal representatives at some stage in their lives and the regulations should be clearly understood by all consumers. While the vast majority of practising solicitors do their job as they should, the situation should be watertight and above board. Does the Taoiseach accept the Competition Authority's report? Does he agree with the recommendation concerning an independent legal commission and, if so, when will the Government act on it?

The answer to those questions is yes. The Government has examined the Competition Authority's report. The authority has produced a number of reports and it reported to the House on this matter two or three weeks ago. That may not be the only model that can be taken, but the Department of Justice, Equality and Law Reform is examining it. I am not satisfied that self-regulation, as it has been operated over the years, is the best model. We must come to a view of how best to do that. Total self-regulation does not provide the impression that the public interest is best served in a transparent way, notwithstanding the fact that the overwhelming majority are doing a good job, as the Deputy said.

There are other models including, for example, the Accounting Standards Association which supervises accountants and is regulated by law. There is a lay majority on that body which works well on a professional and an individual level. It was recently established by law. There is not a huge difference between the accountancy and the legal professions. It was thought necessary to establish such a body for the accountancy sector and that model is working. Increasingly, both of those professions work closely together. The Deputy has seen what is happening in the IFSC and the related legal practices. That is a model therefore that the legal profession should consider. The Department of Justice, Equality and Law Reform is examining the position, however. Generally speaking, self-regulation is not now seen as a great idea internationally. Someone would have to work hard to convince me that self-regulation works, because that is not the case. In all its reports, the Competition Authority indicated that the concept of self-regulation is not the way of the future.