EACT Response to EC Call for Evidence on EU Regulatory Framework for Financial Services

The EACT has responded to the European Commission's call for evidence on the EU regulatory framework for financial services, which aims at assessing the impact of the EU financial reform since 2009. The significant wave of financial regulation has concentrated on ensuring financial stability and on reducing the likelihood of a similar crisis reoccurring. Whilst this was certainly necessary, the EACT is concerned that the measures adopted might have had some serious adverse consequences on non-financials companies' ability to fund themselves, manage their risks and handle their liquidity, and have resulted in putting excessive administrative burden on corporates generally.