Financial industry spends €120m a year lobbying EU

The financial industry spends at least €120m a year influencing new rules designed to prevent another crisis, according to a new study.

Financial institutions employ about 1,700 people in some 700 companies in Brussels ranging from public affairs/relations consultancies, industry federations, and lawyers to lobby for them.

They also dominate 15 of the 17 expert groups established by the European Commission to advise on shaping policy and rules.