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.
