The Association for Financial Markets in Europe (AFME) has published its European securitisation data report for the fourth quarter (Q4) of 2024, as well as the 2024 full year. The data illustrates that in Q4 2024, €63.0bn of securitised product was issued in Europe, a notable increase of 49.2% from Q4 2023.

The Association for Financial Markets in Europe (AFME) has published the first edition of the ‘Capital Markets in the UK–Key Performance Indicators report’ which tracks the progress of the UK’s capital markets against nine key performance indicators. Key strengths identified include levels of corporate and SMEs funding, the UK’s continuance as a global hub for FX and interest rate derivatives, and a vibrant FinTech sector. However, the report highlighted the striking decline in new equity listings and the decrease in foreign listed companies on UK markets as weaker indicators.

The Association for Financial Markets in Europe (AFME) has published its Q3 2025 Prudential Data Report, documenting regulatory developments across major jurisdictions alongside European globally systemically important banks' capital and liquidity positions. The report reveals that the Bank of England's Financial Policy Committee has reduced its Tier 1 capital benchmark from 14% to 13% of risk-weighted assets. In the EU, the European Central Bank's simplification task force has proposed reducing capital stack elements, revising the role and design of Additional Tier 1 and Tier 2 instruments, and aligning minimum requirement for own funds and eligible liabilities and total loss-absorbing capacity frameworks. The ECB has indicated a preference for a capital-neutral approach despite Eurozone banks currently maintaining the highest risk-based Tier 1 capital ratio among major banking jurisdictions. The report notes that regulators in the EU, US, UK, and Australia are advancing initiatives to simplify prudential frameworks, including streamlining capital stacks and revising stress test influences on capital surcharges. European G-SIBs maintained a Common Equity Tier 1 ratio of 14.4% in Q3 2025, with AT1 issuance reaching €8.22bn during the quarter.

The Association for Financial Markets in Europe (AFME) has published its quarterly equity primary markets and trading report for Q3 2025, highlighting the transition of European markets from the Double Volume Cap (DVC) to the Single Volume Cap (SVC) regime on 14 October 2025. Under the DVC, 290 instruments were suspended as of September 2025, comprising 233 at EU level and 57 at trading-venue level. Following the implementation of the SVC, 355 instruments were suspended, representing an increase of 122 compared to EU-level suspensions under the previous DVC regime. AFME noted that early evidence points to changes in the scale of dark trading suspensions, though further monitoring is required to assess the full impact of the new regime.

The Association for Financial Markets in Europe (AFME) published its Q4 2025 equity markets report, highlighting key market developments. Notably, the report details the EU’s transition from the Double Volume Cap (DVC) to the Single Volume Cap (SVC) system on 14 October 2025. The shift to the SVC system is intended to limit dark trading volumes, a change that has led to decreased dark trading proportions across major EU indices while increasing activity on transparent trading mechanisms. Additionally, under the SVC system, the number of suspended instruments temporarily increased from 233 to 355 in October, before declining to 217 by December 2025. This streamlined regulatory framework aims to enhance market transparency and efficiency in the EU equity markets.

The Association for Financial Markets in Europe (AFME) has published an updated report on the regulatory advancements for sustainable finance in Europe and their influence on banks ad capital markets. The report highlights that key EU sustainable finance legislation, including the EU Taxonomy; Corporate Sustainability Reporting Directive (CSRD) and; Sustainable Finance Disclosure Regulation (SFDR) is now in force.

The Association for Financial Markets in Europe (AFME) has submitted a consultation response to the European Commission's consultation on guidelines for conducting due diligence under Article 19 of the Corporate Sustainability Due Diligence Directive (CSDDD). AFME calls for the guidelines to be practical, proportionate and flexible, recommending a safe harbour for good-faith documented efforts where legal or practical barriers prevent access to supplier information. It urges the Commission to avoid mandating a single methodology or duplicating existing Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT), sanctions and data protection obligations. AFME also highlights the structural challenges faced by multinational companies with global networks of non-EU suppliers, and calls for clear pathways for industry collaboration that do not create competition law risks. On the CSDDD Annex, AFME proposes translating obligations from international conventions into principle-based, actionable expectations grouped into thematic categories. AFME also proposes a voluntary, modular due diligence questionnaire organised around themes such as: (1) human rights; (2) labour rights; (3) biodiversity; (4) pollution; (5) water; (6) climate and (7) indigenous peoples' rights. The questionnaire would be developed with cross-sector input to reduce overlapping supplier information requests.

The Association for Financial Markets in Europe (AFME) has responded to a statement by the E6 group calling for greater transparency in equity markets and measures to create a level playing field between banks and trading venues, warning that some of the proposals could reduce banks’ ability to provide liquidity in EU equity markets. AFME says banks play a different role from trading venues because they commit their own capital to facilitate trades, providing investors with immediate execution and additional liquidity, which it argues complements that provided by exchanges. AFME also says that a variety of trading mechanisms supports efficient and competitive capital markets while giving investors greater choice, and stresses that any regulatory changes should be evidence-based and supported by impact assessments to avoid unintended consequences for market liquidity and investors. AFME therefore urges policymakers to focus on promoting pan-European market integration, simplifying regulation and preserving access to a diverse range of trading mechanisms to support the competitiveness of EU equity markets.

The Association for Financial Markets in Europe (AFME) submitted its response to the European Commission's consultation on EU capital markets integration on 10 June 2025. AFME opposed proposed changes to equity market structure, including the introduction of an order protection rule, while advocating for improved post-trade infrastructure competition. The response emphasised the need to focus on generating investor demand and streamlining regulatory frameworks rather than replicating other jurisdictions' market structures. AFME called for addressing market data costs and post-trade inefficiencies ahead of the Commission's expected legislative proposal later in 2025.

The Association for Financial Markets in Europe (AFME) has submitted its response to the joint Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) consultation papers on UK incident reporting & outsourcing registers (PRA CP 17/24 & FCA CP 24/28). The response focuses on issues relevant to wholesale capital markets and provides detailed feedback on the consultation questions posed by the FCA and PRA. AFME's response advocates for a more streamlined, harmonised, and proportionate approach to incident reporting and outsourcing registers to support effective risk management and operational efficiency in the UK financial markets.

The Association for Financial Markets in Europe (AFME) has responded to the Financial Conduct Authority (FCA)'s wholesale data market study, which is an important part of the wholesale market data investigation into competition in three markets: provision of benchmarks, credit ratings data and market data vendor services. The AFME welcomes the final report, as it reflects many of the concerns of market participants such as barriers to entry and expansion, network effects and vertical integration.

The Association for Financial Markets in Europe (AFME) has submitted its response to the Financial Policy Committee (FPC)’s review of UK bank capital requirements. AFME supports the FPC’s proposal to reduce the Tier 1 capital benchmark from 14% to 13% but contends that this target will not be automatically achieved through adjustments under Basel 3.1. AFME’s submission includes 17 recommendations aimed at further refining the capital framework. Key proposals include removing leverage ration buffers, reducing Common Equity Tier 1 (CET 1) quality requirements, and reviewing the O-SII buffer. Additionally, AFME highlights that the current minimum requirements for UK ring-fenced banks exceed the FPC benchmark by between 0.7% and 2%.