Finance Watch writes to the EBA on top official’s alleged move to lobbying organisation

Brussels, 17 September 2019 – In a letter sent today to the European Banking Authority, Finance Watch raises concerns in relation to a news report that the outgoing Executive Director of the EBA is preparing to join a large financial markets lobbying organisation.

In our view, moving directly from senior banking supervisor to senior banking lobbyist should be subject to a cool-off period of between two and five years: Any less could cast doubt on the EBA’s independence and raise legitimate questions about why the EBA follows a lower governance standard in this regard than is applied in many Member States.

Our full letter is available online.

ENDS

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ABOUT FINANCE WATCH

Finance Watch is a European, not-for-profit association of civil society Members, dedicated to making finance work for the good of society. It works for a financial system that allocates capital to productive use through fair and open markets, in a transparent and sustainable manner, in line with society’s needs and without exploiting or endangering society at large.

Finance Watch Members are supported by a professional full-time secretariat recruited mainly from the financial and policy sectors, with strong communications and stakeholder engagement capacities, to conduct advocacy and provide technical know-how and coordination for our civil society network.

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