The European Commission has today proposed a regulation to establish an EU programme to support two non-profit organisations, Finance Watch and Better Finance, for the 2017-2020 period. The proposed funding is part of efforts to involve a broad range of stakeholders in the area of financial services policy-making and to hear all points of views so that the interests of European consumers are better served. The programme's overall budget will amount to a maximum €6 million during that period, with a maximum 60% co-funding rate. The Commission first launched a pilot project in 2011 to support the development of a European centre of financial expertise that would stimulate the involvement of consumers and non-industry stakeholders in the area of EU financial services policy-making. Finance Watch and Better Finance received operating grants between 2012 and 2015 for that purpose. The evaluation of the pilot project found that the objective had been met. No other applicants have responded to the Commission’s tender for funding in this specific area. The Commission now seeks the European Parliament and Council's support for the proposal to continue funding these activities along the same lines between 2017 and 2020.
