The European Commission’s unit for banking and financial regulation has a “revolving door problem”, with a high proportion of top officials joining companies they were overseeing, according to an NGO report.
“Out of the five former directors between 2008-2017 who have now quit the Commission, four went to work for companies they once oversaw or lobby firms that represent them,” Corporate Europe Observatory (CEO), a transparency organisation, noted in a report published on Thursday(12 April).
The research, done with Yiorgos Vassalos, a PhD student and teaching assistant at the French University of Lille, focuses on the years when the commission addressed the financial crisis and was tasked with increasing regulation of the sector.
It shows that one of the three heads of unit who worked on financial regulation between 2008 and 2017 and have now left the commission, went on to work for the financial industry…
Read more : EUObserver, 12.04.2018