EU Federation for the Factoring and Commercial Finance Industry

The EUF is the Representative Body for the Factoring and Commercial Finance Industry in the EU. It comprises national and international industry associations that are active in the region.

The EUF seeks to engage with Government and legislators to enhance the availability of finance to business, with a particular emphasis on the SME community. The EUF acts as a platform between the factoring and commercial finance industry and key legislative decision makers across Europe bringing together national experts to speak with one voice.

The EUF has written to the US tax authorities regarding the current FATCA consultation, (FATCA – REG-12647-10 Regulations Relating to Information Reporting by Foreign Financial Institutions and Withholding on Certain Payments to Foreign Financial Institutions and Other Foreign Entities) to state that as non deposit taking institutions, factoring and commercial finance companies should not be included in the proposals which create significant reporting obligations on subject businesses.

The detailed repsonse may be read here:

The EUF is delighted to publish its Spring 2012 Newsletter, again kindly sponsored by Codix.

The EUF held its third Annual Members’ Council Meeting on March 27^th at the “Moulin de Lindekemale” in Brussels. Representatives from Members across Europe attended the Meeting and heard a keynote review from John Gielen, the Independent Chairman, on the progress and strategy of the organisation. The Chairmen of the Legal, Economics and Statistics, and Accounting Issues Committees all provided updates on the detailed operational activities and achievements of the last year, together with a briefing on their groups’ priorities for the coming months.

Members had the chance to meet up with each other and network. They were joined by representatives of Euralia, the retained lobbying support organisation and by Codix, sponsors of the EUF Newsletter for 2012.