On January 15, the EU Commission decided that former Commissioner Thierry Breton has been approved to join Bank of America. This decision comes just months after his term as Internal Market Commissioner ended in September 2024.

For two years after leaving office, former Commissioners must seek the Commission’s approval before taking on new roles. The Commission has the power to deny such requests if there is a risk of a conflict of interest — for example between keeping Commission internal knowledge confidential and serving a new private interest that might want to influence EU rules and regulations.

Currently, the decision to approve or reject these roles is made by just three persons chosen by the Commission. The newly established EU Ethics Body, which would allow independent experts to review such cases, has not yet begun its work. 

Daniel Freund, Chair of the Anti-Corruption Intergroup in the European Parliament, comments:

“Having just left the EU’s most powerful institution, former Commissioners should not be allowed to take on lobbying roles. Bank of America openly lists its lobbying interests in the EU Transparency Register. By approving this position, the EU Commission is mocking its own rules and damaging its credibility.”

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Background

Code of Conduct for EU Commissioners: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32018D0221(02)

Article 11

Post term of office activities

1.   After ceasing to hold office, former Members shall continue to be bound by their duty of integrity and discretion pursuant to Article 245 of the Treaty on the Functioning of the European Union. They shall continue to be bound by the duties of collegiality and discretion, as laid down in Article 5, with respect to the Commission’s decisions and activities during their term of office.
2.   Former Members shall inform the Commission with a minimum of two months’ notice of their intention to engage in a professional activity during a period of two years after they have ceased to hold office. For the purposes of the present Code, ‘professional activity’ means any professional activity, whether gainful or not, other than any unpaid activity which has no link with the activities of the European Union and which does not give rise to lobbying or advocacy vis-à-vis the Commission and its services such as: …
3.   The Commission shall examine the information provided in order to determine whether the nature of the planned activity is compatible with Article 245 of the Treaty on the Functioning of the European Union, and if the planned activity is related to the portfolio of the former Member, it shall decide only after having consulted the Independent Ethical Committee.

https://eur-lex.europa.eu/eli/treaty/tfeu_2016/art_245/oj 

Article 245 TFEU

The Members of the Commission shall refrain from any action incompatible with their duties. Member States shall respect their independence and shall not seek to influence them in the performance of their tasks.

The Members of the Commission may not, during their term of office, engage in any other occupation, whether gainful or not. When entering upon their duties they shall give a solemn undertaking that, both during and after their term of office, they will respect the obligations arising therefrom and in particular their duty to behave with integrity and discretion as regards the acceptance, after they have ceased to hold office, of certain appointments or benefits. In the event of any breach of these obligations, the Court of Justice may, on application by the Council acting by a simple majority or the Commission, rule that the Member concerned be, according to the circumstances, either compulsorily retired in accordance with Article 247 or deprived of his right to a pension or other benefits in its stead.