The Centre for Research on Multinational Corporations (SOMO) is an independent, not-for-profit research and network organisation
working on social, ecological and economic issues related to sustainable
development. Since 1973, the organisation investigates multinational
corporations and the consequences of their activities for people and the
environment around the world. More...
What reforms are moving in European financial regulation? The new German coalition government will not have a profound effect in this area, except maybe on Financial Transaction Tax. There are some worrying developments on contractual agreements on economic policy with EU member states. More positive is the progress on rules to deal with tax evasion and money laundering, although civil society needs to stay vigilant to ensure regulation is not watered down. This issue of the EU Financial Reforms newsletter discusses these issues in depth and also updates us briefly on negotiations on the Transatlantic Trade and Investment Partnership between the EU and US, on food speculation and high frequency trading, on benchmark index regulation, and on long term investment funds.
A wide coalition of European and Latin American organisations representing consumers, workers and suppliers, delivered today over 40,000 postcards and signed petitions to Commissioner for Internal Market, Michel Barnier, urging him to rein in the abusive purchasing practices by supermarkets.
Three guest speakers set out their approach and vision on regaining control over multinationals and made SOMO's 40th anniversary debate an unforgettable event. The speakers and audience could have continued the discussion for hours, as was clear from the number and diversity of questions put to the three speakers: Eva Joly (Member of the European Parliament), Martyn Day (human rights lawyer) and Ewald Engelen (financial geographer at the University of Amsterdam) after their thought-provoking presentations.
OECD Watch has developed an online Case Check to assist potential complainants in deciding whether the OECD Guidelines for Multinational Enterprises can be used to address corporate misconduct. This new tool now makes the OECD Guidelines complaint mechanism much more accessible and comprehensible for civil society organisations.
On Monday 2 December a Civil Society Dialogue took place on the occasion of the Second Annual UN Forum on Business and Human Rights. This event was hosted by the Center for Research on Multinational Corporations (SOMO), the International Corporate Accountability Roundtable (ICAR), the Business and Human Rights Resource Center, and the International Federation for Human Rights (FIDH).