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
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
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.
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