The financial crisis that erupted in Europe in autumn 2008 resulted in an economic crisis that also severely affected many developing countries...Although the financial sector is clearly global and interconnected, whereby many European banks are present in developing countries, little attention is given to what impact the EU‘s financial reforms have on developing countries. In addition, the EU financial reforms do not take the global environmental and social challenges into account and make no attempt to ensure that the financial sector supports the transformation to sustainable economies and societies...This report has selected a series of new financial laws on which the EU has decided or will decide on, made on the basis of the perceived importance for developing countries and sustainable development. [refers to HSBC, Credit Agricole, Lehman Brothers]