MEP's Ties to Businessman Raise Conflict of Interest Concerns
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German MEP Markus Ferber had a long relationship with Dutch businessman Michael Heijmeijer, giving the latter access to EU officials and insights into financial regulations Ferber helped write.
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Heijmeijer planned for Ferber to make over €1 million consulting banks on the legislation, but it's unclear if any contracts materialized.
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Ferber promoted Heijmeijer's financial compliance service TIPER and co-founded a foundation with him, raising conflict of interest concerns.
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An investigation found Ferber violated transparency rules by not properly declaring their relationship, but he faced no punishment.
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The case highlighted loopholes allowing MEPs to profit from side jobs and consulting gigs related to their legislative work.