Annual Review

The 2022 Annual Review, "Strengthening the competitiveness of European financial markets", summarises AFME's work over the past year. Following recent economic events, capital markets have been through a period of instability, but have remained resilient. AFME's work has focused on further strengthening capital markets to ensure they can support the real economy and end users of capital markets, including investors and savers.

The 2021 Annual Review, "Supporting Europe’s post-pandemic economic recovery", summarises AFME's accomplishments over the past year. This has been another testing year for European businesses in light of the pandemic, but it has also been a period underpinned by opportunity. While 2019/20 centred on resilience and adapting to the immediate change caused by the pandemic, AFME’s work this year has focused more on the role financial markets can play in driving Europe’s economic recovery.

The 2020 Annual Review, "Navigating the new normal", summarises AFME's accomplishments over the past year. This year has been unlike any other and has presented unprecedented adversity to both society and businesses. This annual review features a dedicated section covering the work of teams in mitigating the impact of COVID-19 on capital markets.

The 2019 Annual Review details the past year’s achievements during a period of significant political change, with new leadership at the European Commission, European Council and European Central Bank.

“Europe’s wholesale markets are operating in a time of unprecedented structural change, which will continue throughout the Brexit negotiation period and beyond. AFME is committed to working with its members through these challenging times and our role as the voice of Europe’s wholesale financial markets is more important than ever.”

“2017 has been a year of structural and political change, leaving the European capital markets industry with more questions than answers. At such a time of uncertainty, our role as a pan-European trade group could not be more important, not just to present the voice of the wholesale financial markets in Europe, but to provide a meaningful, fact-based contribution to help shape the future of our industry.”

2016’s annual review covers AFME’s post-referendum work, its continued support of the European Commission’s Capital Markets Union project and our policy positions in areas such as growth, MiFID2, securitisation, recovery and resolution, advocacy and compliance.

2015’s annual review covers AFME’s position on the UK’s EU referendum, its work in support of the European Commission’s Capital Markets Union project and policy position.

Covering a historic wave of new regulation for banking and the capital markets, 2014’s review includes a look at the creation of Europe’s Banking Union and the reshaping of AFME’s business model.

2013’s review points to the challenges to economic growth in Europe and how it can be kick started.

After the intense post-crisis period, 2012 saw rule-making give way to the task of implementing reforms.