News

Dear member,

Here is our second edition of the UNI Europa Finance newsletter.

As mentioned before, it is intended to be a tool to share information and networks - from the UNI Europa Finance secretariat side but also welcoming your contributions.

Wishing you happy holidays

Michael Budolfsen, President UNI Europa Finance

Trade unions in action: EBA recognises collective agreements

The European Banking Authority (EBA) has gone back on its previous recommendation to the European Commission to make all collective agreements in the finance sector fit within the framework of the guidelines laid out by the EBA.

As described in the UNI Europa Finance Newsletter on 27 September, the “Remuneration Guidelines” published by EBA attacked the right for social partners to negotiate collective agreements.

UNIEuropa Finance instantly reacted to this and together with our colleagues and other stakeholders we brought this up with EBA and the Commission to have the approach changed.

On 28 September the EBA published their final report on guidelines on remuneration, in which they state that the guidelines do not prevent the right for collective agreement to take place’.

This is a great success for UEF and the trade union movement in general, which comes after nine months of continuous lobbying on several levels and through several channels. We have raised the issue with the Commission at every available opportunity and this piece of excellent trade union work has now paid off.

Overregulation has thus been prevented this time, but UEF will continue to monitor the recommendations coming from the ESAs for future attempts to expand their mandate into social partner territory.