IRTA’s Opinion Letter To EU To Protect Barter Industry In Europe
On July 14, the International Reciprocal Trade Association (IRTA) together with IRTA-Europe submitted a two-page opinion letter to the European Union Commissioner for Market and Services to effectively protect the status of barter exchanges located within the European Union. The EU is presently considering regulations in a Financial Directive that if adopted could adversely affect barter exchanges there.
Therefore, IRTA’s letter has requested that the European Union:
· Exempt trade clearinghouses from any proposed regulations that may regulate financial clearinghouses.
· Modify the proposed language to assure that it is not so broad as to include trade clearinghouses under any regulatory plan that is intended for financial clearinghouses.
As part of this message included below is the full text of the IRTA letter.
IRTA founder Paul Suplizio chaired the committee that created the letter; it was then approved unanimously by the IRTA Global Board of Directors and the members of IRTA-Europe. IRTA President David Wallach and IRTA-Europe Chairperson Dorottya Szabo signed the letter on behalf of the Modern Trade and Barter Industry.
For more information e-mail Ron Whitney at ron@irta.com or call (757) 393-2292.
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