EACT highlights European Union's failure to consider real economic impact of financial regulatory proposals

The European Association of Corporate Treasurers (EACT) has sent an open letter to the Commissioners of the European Union, expressing grave concern over how, in its development of financial regulatory proposals, Brussels takes account of their impact on employment, growth and stability in the real economy. The letter has been signed by 188 European companies and its release follows that of a similar letter in January 2010.

The EACT's new letter to the Commissioners urges them to ensure that in the development of financial regulatory proposals there is a proper dialogue with the end-users of financial services and products. Whilst the EACT strongly supports the actions being taken to strengthen the oversight of the financial system, its experience is that inadequate attention is paid to a proper understanding of the inter-connectedness between financial regulation and the real economy.

Of immediate concern to the EACT is that proposals currently being made in Brussels for Directives and regulations over capital requirements in the banking sector (CRD IV and CRR) and financial instruments' markets (MiFID and MiFIR) threaten to reverse the economic value of the exemption granted to end-users of derivatives in the final version of the proposals (EMIR) now being confirmed by the European Union. Please click here to read the full press release (including comment from Richard Raeburn, EACT Chairman), and click View Document below to read the EACT's open letter to the Commissioners of the European Union, entitled "Financial Regulatory Policy: the need for dialogue with the real economy."

View Document

Subscribe to the EACT Newsletter

News


EACT Award 2023

The EACT is pleased to invite its members for nominations for the 4th EACT Award.

View More

PCTA - 15 Year Anniversary

Photo from PCTA - 15 Year Anniversary

This year marks the 15th anniversary of the Association of Polish Corporate Treasurers. The 20th August, 2007 is the foundation day of the Association

View More

EACT Award 2022: And the Winner is...

EACT Award 2022: And the Winner is... For the 3rd year in a row, the EACT recognises a project realised within the European Treasury Community.

View More

Happy Holidays from the EACT

We wish you and your loved ones a happy holiday season and a new year filled with joy, prosperity and happiness.

View More

Press Release: New Board Chair Announcement

Photo from Press Release: New Board Chair Announcement

The European Association of Corporate Treasurers (EACT) announces the appointment of François Masquelier as its new Chair as from October 1st.

View More