ESMA publishes 2024 data on cross-border investment activity

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, in cooperation with National Competent Authorities (NCAs), completed an analysis of the cross-border provision of investment services in 2024. Data was gathered from investment firms across 30 jurisdictions in the EU/EEA. The main findings include: Around 370 financial firms provided cross-border services to retail clients. Approximately 10.5 million clients in the EU/EEA received investment services from firms located in other Member States. Compared to 2023: The number of firms decreased by 4%. The number of retail clients rose by 32%. Complaints increased by 46%. Cyprus leads as the primary location for firms providing cross-border investment services in the EU/EEA, accounting for 21% of passporting firms, followed by Luxembourg (15%) and Germany (13%). Germany, France, Spain, and Italy are the most significant destinations for retail clients receiving cross-border services in other Member States. These insights 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 2026.