November 28
2021
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Trajan Shipley
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2nd November 2021
Banking & Finance Institutional law

Ombudsman finds maladministration in Commission’s handling of concerns on the composition of High Level Forum on Capital Markets Union

The European Ombudsman has issued a decision in case 1777/2020/KR, finding two instances of maladministration by the European Commission with regard to how it handled concerns about the composition of the High Level Forum on Capital Markets Union (CMU) and alleged conflicts of interest of some of its members.

The Commission created the High Level Forum on Capital Markets Union in October 2019 as an advisory forum that gathered senior industry executives and top international experts and scholars to develop new ideas on the future of CMU policies. The Forum had two types of members: type A, who were appointed in their personal capacity to act independently and in the public interest; and type B, who represented a common interest of

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