ESMA published on 2 June 2016 a Statement reminding banks and investment firms of their responsibility to act in their clients’ best interests when selling bail-in-able financial instruments. New Banking Recovery and Resolution Directive rules in force since January 2016 mean firms are likely to issue a significant amount of potentially loss-bearing instruments to fulfil their obligations and ESMA is concerned investors – in particular retail investors - are unaware of the risks they may face when buying these instruments.  A copy of the press release and the Statement can be accessed here.