ESMA publishes 2023 data on cross-border investment activity of firms

July 15, 2024--The European Securities and Markets Authority (ESMA), the EU's financial markets regulator and supervisor, together with the National Competent Authorities (NCAs), completed an analysis of the cross-border provision of investment services during 2023.
The data sets were collected from investment firms across 30 jurisdictions in the EU/EEA.

The main findings include:

A total of around 386 firms provided services to retail clients on a cross-border basis in 2023;
Approximately 8 million clients in the EU/EEA received investment services from firms located in other EU/EEA Member States in 2023;
Compared to 2022, the cross-border market for investment services grew by 1.6% in terms of firm numbers, and by 5% in terms of retail clients, while the number of complaints increased by 31%;
Cyprus is the primary location for firms providing cross-border investment services in the EU/EEA, accounting for 20% of the total firms passporting investment services. Luxembourg and Germany follow with 15% and 14% of all firms, respectively; and
Germany, France, Spain, and Italy are the most significant destinations (in terms of number of retail clients) for investment firms providing cross-border services in other Member States.

Markets increasingly sensitive after strong performance in early 2024

August 29, 2024-The European Securities and Markets Authority (ESMA), the EU's financial markets regulator and supervisor, today publishes its second risk monitoring report of 2024, setting out the key risk drivers currently facing EU financial markets. External events continue to have a strong impact on the evolution of financial markets, and ESMA also sees high or very high overall risks in the markets within its remit.

ECB-Monetary developments in the euro area: July 2024

August 28, 2024--Annual growth rate of broad monetary aggregate M3 stood at 2.3% in July 2024, unchanged from previous month (revised from 2.2%)
Annual growth rate of narrower monetary aggregate M1, comprising currency in circulation and overnight deposits, was -3.1% in July, compared with -3.4% in June
Annual growth rate of adjusted loans to households increased to 0.5% in July from 0.3% in June

ECB making good progress but job not done, Lane says

August 24, 2024--The European Central Bank is making "good progress" in cutting inflation back to its 2% target but success is not yet assured, so restrictive monetary policy is still needed, ECB chief economist Philip Lane said on Saturday.

Robeco starts 'strategic hiring' ahead of entry into ETF market

August 23, 2024--An increasing number of active managers are entering the ETF space in Europe ahead of an expected surge in demand
Robeco is building a specialist sales team ahead of its entrance into the exchange traded funds market this year.