Foreign financial corporations’ US lobbying

Written by admin on December 19th, 2010

Here are a few selected third quarter lobbying expenditures by foreign financial corporations who have operations in the United States.

Deutsche Bank Securities Inc. spent $540,000 lobbying the government during the third quarter on financial regulatory reform and foreign tax issues, a decrease of about 41 percent from the second quarter.

The German bank, which has operations in the United States, spent $920,000 to lobby the government during the second quarter. In the third quarter of 2009, it spent $300,000.

In this year’s third quarter, Credit Suisse Securities, which includes the bank’s U.S. operations, lobbied the Department of Treasury, both houses of Congress and the Federal Reserve System, Commodity Futures Trading Commission, Securities & Exchange Commission and National Economic Council.

The bank lobbied on issues including foreign tax compliance issues, derivatives trading changes, futures trading limits, SEC standards for broker-dealers, and Wall Street reform issues.

HSBC spent slightly more on lobbying the government in the third quarter than it did the previous quarter.

The British bank spent $540,000 in the quarter that ended Sept. 30. In the second quarter it had spent $510,000, which was about half of the $1 million spent in the first three months of the year, when banks were pushing hard to prevent financial reform measures from becoming too onerous.

Barclays PLC spent $1.09 million during the third quarter to lobby the U.S. government on financial regulatory reform and tax code issues, according to a Congressional lobbying disclosure filing.

The money spent during the third quarter was 14 percent more than the $930,000 spent in the second quarter and 62 percent more than the $410,000 spent in the third quarter of 2009.

The British bank lobbied both houses of Congress, the Treasury Department, the Executive Office of the President, Securities and Exchange Commission, and the Commodity Futures Trading Commission


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