ESMA - European Securities and Markets Authority

07/15/2024 | Press release | Distributed by Public on 07/15/2024 03:12

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

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.

The insights gained from the analysis will allow ESMA and the NCAs to better understand and monitor cross-border investment services provided by firms in the EU/EEA.

Next steps

ESMA will perform the next data collection in 2025.

Further information:

Sarah Edwards

Senior Communications Officer
[email protected]