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Ombudsman investigates European Banking Authority's decision to approve a move by its Executive Director to a finance industry association

The European Ombudsman has opened an inquiry into the decision by the European Banking Authority (EBA) to approve its Executive Director's request to become CEO of an association representing the finance industry.

The inquiry is based on a complaint from the organisation Change Finance, which argued that the Executive Director's move to the Association for Financial Markets in Europe (AFME) will create conflicts of interest.

As the first step in the inquiry, the Ombudsman has asked the EBA to respond to 12 questions concerning its decision to approve the move.