MEPs reject Irish candidate for regulator over his lobbying past

Gerry Cross misses out on top role at European Banking Authority following questions about his work for the Association for Financial Markets in Europe

The rejection of Gerry Cross, an Irish Central Bank official, comes amid increasing concerns about a “revolving door” between European regulators and the banking industry. Picture: Getty

The European Parliament rejected the nomination of an Irish Central Bank official to become one of the bloc’s top banking regulators amid concerns about his past employment for an industry group.

The nomination of Gerry Cross as executive director of the European Banking Authority (EBA) was blocked a narrow majority on Thursday by the assembly’s Committee on Economic and Monetary Affairs. At a hearing on Wednesday, Cross had faced numerous questions about his past work ...