The report gives an overview of key issues at stake in European debates in which Finance Watch has been engaged in the year, including: Bank Structure Reform, Long term financing, ELTIFs, Capital Markets Union, MiFID, PRIIPs, Better Regulation, Banking Union and BRRD, Shadow Banking, MMF, Securities Financing Transactions and TTIP.
Finance Watch’s Secretary General, Christophe Nijdam, said:
“Markets need rules, and rulemaking needs balance. The huge imbalance between financial sector lobbying and civil society remains a serious problem and this is where Finance Watch comes in: our job is to make sure that the interests of civil society and the public are represented to policymakers.”
Finance Watch has a total budget of around EUR 1.9 million, is funded independently and has no links to the financial sector or political parties.
According to a 2014 survey, the financial sector employs 1,700 lobbyists in Brussels and spends at least €120m a year on lobbying the EU to influence and water down financial regulation, outspending other actors by a factor of 30. This is based on a conservative estimate and the real figures are likely to be significantly higher.
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