Our letter to the EBA on top official’s alleged move to lobbying organisation

17 September 2019

Open letter

Update 28/10/19 -> You can now sign a petition organised by the Change Finance coalition.

With research support from Kenneth Haar, Corporate Europe Observatory, member of the Change Finance Coalition, Finance Watch writes to the European Banking Authority and calls for a cooling-off period for outgoing senior officials

Update 23/09/19 -> Read our press release: Finance Watch disappointed at EBA’s weak conditions for Adam Farkas move to lobby group

In a letter 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.