A captive Commission - the role of the financial industry in shaping EU regulation

Publication - November 5, 2009

Executive summary: The report, by ALTER-EU (Alliance for Lobbying Transparency and Ethics Regulation in the EU), reveals how the European Commission formulates its financial policy almost exclusively on the basis of advice from the financial industry and the very people who were unable to predict the current financial crisis. The report reveals that, at all stages of the policy process, the very same financial sector that the Commission is seeking to regulate has a near monopoly on advising the Commission on how it should do this. If real change is to be achieved, the Commission must base its regulation policies on genuinely balanced and independent advice.

Num. pages: 24