In a letter to the European Banking Authority, Finance Watch calls for a cooling-off period for outgoing senior officials
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.
For further information or interview requests, please contact:
Charlotte Geiger, Senior Communications Officer at Finance Watch, at email@example.com or at 0032/(0)474331031.
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.
For more information about the Finance Watch governance and funding, please visit the Finance Watch website: https://www.finance-watch.org/governance-funding/
You can help tip the balance! Strengthen our impact by joining our collective efforts.