26 May 2011, Brussels
Finance Watch is a new European organisation created to improve the reform of financial regulation. Its mission will be to ensure that the interests of society are better represented in arenas currently dominated by the financial industry and its lobby.
Finance Watch is created out of a belief that good financial services are essential for society and carry a strong public interest dimension but that, all too often, efforts to improve the rules that govern the financial system are undermined by an asymmetry of lobbying where only the arguments of the financial industry appear to be heard.
Forty organisations from a dozen different countries (including trade unions, consumer organisations, non-governmental organisations, retail investors organisations and research institutes) as well as seventeen finance specialists and academics have now become members of Finance Watch and will participate to its founding General Meeting on June 30th.
Finance Watch will operate through a dedicated staff including finance professionals, legal and technical experts and lobbyists. Its Board will be appointed by its members who collectively represent a broad cross-section of society in countries throughout Europe.
The founding General Meeting will lead up to the appointment of the Board of Directors and the approval of the Committee of transparency and independence (ethical committee).
The newly elected Board will meet immediately and elect its Chair and Vice-Chair and appoint Finance Watch’s Secretary General who will have the responsibility of running the organisation.
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