Finance Watcher

Finance Watch is an independent, non-profit association dedicated to making finance serve society. Based in Brussels, Belgium, it acts as a public interest advocate, challenging the power of the financial industry and working to reshape the financial system for the benefit of ordinary citizens. Founded in 2011 in the aftermath of the global financial crisis, it emerged from a growing consensus that financial regulation was often unduly influenced by industry lobbyists, leading to policies that prioritized profit over social good.

Unlike many organizations operating within the financial sphere, Finance Watch is not funded by the industry it seeks to regulate. Instead, it relies on grants from philanthropic foundations, membership fees from supportive individuals and organizations, and project-based funding from the European Union and other government bodies. This independence allows Finance Watch to maintain a critical perspective and advocate for policies that might be unpopular with powerful financial institutions.

Finance Watch’s core mission is to influence financial regulation at the European level, primarily engaging with the European Commission, the European Parliament, and other relevant EU agencies. Its work encompasses a broad range of financial topics, including banking regulation, capital markets, sustainable finance, and consumer protection. They actively participate in public consultations, publish research reports, and engage with policymakers to promote evidence-based policy decisions.

A key area of focus for Finance Watch is ensuring that financial regulation adequately addresses systemic risk. They advocate for stronger capital requirements for banks, robust resolution mechanisms to deal with failing institutions, and measures to curb excessive speculation. They argue that a resilient financial system is essential for economic stability and protecting taxpayers from future bailouts.

Furthermore, Finance Watch champions the interests of consumers and investors. They work to improve transparency and fairness in financial markets, advocating for clearer product labeling, stricter rules on financial advice, and better remedies for victims of financial misconduct. They believe that informed and empowered consumers are crucial for a healthy and equitable financial system.

In recent years, Finance Watch has increasingly focused on the role of finance in addressing climate change and promoting sustainable development. They advocate for integrating environmental, social, and governance (ESG) factors into financial decision-making and for redirecting capital flows towards sustainable investments. They argue that the financial system has a critical role to play in achieving the goals of the Paris Agreement and transitioning to a low-carbon economy.

Finance Watch operates as a relatively small organization but leverages its expertise and networks to punch above its weight. Its success lies in its ability to provide independent, well-researched analysis, and to articulate its arguments clearly and persuasively to policymakers and the public. By acting as a counterbalance to the powerful financial lobby, Finance Watch strives to create a financial system that serves the needs of society as a whole.