AFME's 2014 Annual Review takes stock of a historic12 months which marked not only the culmination of a historic wave of new regulation for banking and the capital markets, but also the creation of a Banking Union. During this time, EU institutions were highly active in pushing through new legislative proposals, with a broad package of reforms adopted on 15 April – Europe’s own ‘Super Tuesday’. For AFME and for our members, 2014 saw seen sustained technical work and continued close engagement with policymakers and regulators, which continued into the Level 2 rulemaking phase.