On July 14th, 2010 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 EU.
The EU is considering regulations in Settlement Financial Directive 2009/44/EC that if adopted could adversely affect barter exchanges in the EU.
Therefore, IRTA representing the Modern Trade and Barter Industry has requested that the European Union:
1) Exempt trade clearinghouses from any proposed regulations that may regulate financial clearinghouses.
2) Modify the proposed language so as 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 which 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 further information email Ron Whitney at firstname.lastname@example.org or call IRTA at 757-393-2292 USA or
Skype at ron.d.whitney