AFME (Association for Financial Markets in Europe)

AFME has today published a report highlighting the critical barriers still limiting EU banking consolidation, including over €475 bn in capital and liquidity trapped by regulatory ringfencing, as well as the fact EU banks face higher funding costs versus global peers with stringent MREL requirements (28% of risk weighted assets) exceeding levels in the US (22%) creating a competitive disadvantage. Furthermore, our report finds EU Banking M&A is the slowest in the world with acquisitions taking 285 days on average – far longer than the US (219 days) delaying consolidation and weakening the sector’s efficiency. Access the report here: https://bit.ly/4g09BT4 Read the full press release: https://bit.ly/4mOvOX0

AFME is delighted to announce that Derville Rowland, Executive Board Member at the AMLA - The EU Anti-Money Laundering Authority, will deliver a keynote address at AFME’s European Compliance and Legal Conference 2025, taking place on 22–23 September in London. Ms Rowland brings extensive expertise in consumer and investor protection, capital markets and funds, enforcement, and financial integrity, including anti-money laundering and financial sanctions. Her keynote will provide essential insights into the evolving regulatory landscape and the future of financial integrity in Europe. Register now: https://bit.ly/4mCHgoa

Join us at OPTIC 2025, where the industry’s leading voices will convene to explore how technology is shaping the development and transformation of Europe’s capital markets. One key session, "Delivering Europe’s Competitiveness Agenda: The Role of Technology and Innovation," will examine how public and private actors can collaborate to reinforce Europe’s position in global financial markets. With competitiveness high on the EU political agenda, panellists James Kemp, Managing Director, Global FX, Technology and Operations and Policy Divisions at GFMA and AFME, Pablo Portugal, Senior Public Affairs Director at Euroclear, and Karel Lannoo, Chief Executive Officer at CEPS (Centre for European Policy Studies), will explore how emerging technologies can enable greater integration, scalability and operational efficiency across the financial ecosystem. Register now: https://bit.ly/3HeAdCY

AFME has welcomed the UK Government’s long-term vision for financial services. One year into its first term and eight months after the first Mansion House speech that set the tone, where do things stand? In the latest episode of AFME Voices, Matthew Harley, Manager of UK Advocacy, discusses the Leeds Reforms and how they fit into broader efforts to enhance competitiveness, reduce regulatory burden, and support economic growth. 🎧 Listen here: https://lnkd.in/eayeqZhn

AFME has today published its ESG Finance Report for the second quarter of 2025, which has found the lowest H1 issuance of ESG and Sustainability linked and Transition Bonds since 2022. Access the data report here: https://bit.ly/4m4t7Ad

Following the publication of the EU-wide stress test results by the European Banking Authority (EBA) today, AFME has issued a statement on behalf of its members that participated in the exercise. Access the press release here: https://bit.ly/3UbFhLf

AFME has today published its Equity Primary Markets and Trading Report for the second quarter of 2025. The report finds that while global IPO activity is on the rise, Europe continues to lag behind. Access the data report here: https://bit.ly/45oqO4N

European financial services sector associations ask for clarity on CRA-DORA overlap.   In the context of the European Commission's objective to simplify the European regulatory framework, six leading associations representing the European financial services sector – European Banking Federation, European Association of Co-operative Banks, WSBI-ESBG, EFAMA, AFME and Insurance Europe reiterate the overlap between DORA and CRA. More specifically: 🔷 Financial services offered through digital channels risk falling under both DORA and CRA, despite already being comprehensively regulated under DORA. 🔷 Applying the CRA on top of DORA would introduce unnecessary complexity and compliance costs, whilst not enhancing security due to the duplication of cybersecurity requirements between the two frameworks. 🔷 DORA covers the entire lifecycle of these systems, from development to decommissioning, and includes risk-based management, incident handling, vulnerability management, and customer communication strategies.   At a time when the financial industry is expected to finance and facilitate Europe's strategic priorities (competitiveness, defense, green and digital transitions), it is very important that the Commission provides, as soon as possible, a clear exemption from CRA for financial entities subject to DORA (via a delegated act under Article 2(5) of the CRA). This would provide much-needed certainty to the industry as it plans for cyber resilience investments and compliance efforts.

AFME, in collaboration with PwC Strategy&, has published a comprehensive report analysing the state of European equity markets. Drawing on new quantitative data and insights from over 40 interviews with key market participants across the equity value chain, the report offers a detailed assessment of the current strengths and persistent challenges facing Europe’s equity markets.   The research reveals a mixed picture. While recent reforms and steady market performance suggest some cause for optimism, deeper structural issues continue to weigh on Europe’s global competitiveness.   The report identifies increasing investor participation as critical to Europe’s growth and competitiveness and recommends targeted interventions to simplify the regulatory framework and reduce the complexity of the ecosystem to support this. Access the report here: https://bit.ly/3H5Bn3v

AFME has today published its Securitisation Data Snapshot for the second quarter of 2025, which has found European securitisation issuance reached €73.6bn during this quarter. Access the snapshot here: https://bit.ly/3IHwONo