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Top EU Banking Regulator Moves to Lobbying, Sparking Criticism

  • Adam Farkas will become chief executive of industry group AFME
  • Former employer EBA applies limits on what Farkas can work on

One of Europe’s most senior banking regulators is switching sides to represent the region’s biggest lenders on policy issues, drawing criticism from lawmakers and advocacy groups.

Adam Farkas, currently the executive director of the European Banking Authority, will become the head of the Association for Financial Markets in Europe, the industry group said in a statement. The EBA announced separately that Farkas is stepping down and will refrain from policy and supervisory work until he leaves.