Joint statement on Responsible Private Funding of Litigation

JOINT STATEMENT

Joint statement on Responsible Private Funding of Litigation

Brussels, 14 November 2024 - The European Banking Federation (EBF), together with industry partners, has joined a joint statement calling for the regulation of private Third-Party Litigation Funding (TPLF) at the EU level. We believe that a fair and balanced civil justice system is crucial for ensuring the effective enforcement of claimants' rights while safeguarding those of defendants. As unregulated TPLF gains momentum, concerns are rising over its potential to encourage speculative and abusive litigation, creating a chilling effect that could stifle investment and innovation across the EU. In this statement, EBF and its partners advocate for a regulatory framework that aligns TPLF practices with the high standards of transparency and integrity already present in the EU's legal and financial sectors.

For more information:

Blazej Blasikiewicz - Director of Legal, International & Social Affairs [email protected]

About the EBF:

The European Banking Federation is the voice of the European banking sector, bringing together national banking associations from across Europe. The EBF is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere.