On 20th March 2018, ESMA highlighted that european securities markets, infrastructures and investors remain at risk, the European Securities and Markets Authority (ESMA) said today in its latest Trends, Risks, and Vulnerabilities (TRV) Report (No 1, 2018). ESMA also re-iterated its concerns about retail investors investing in speculative and risky products, such as virtual currencies and Initial Coin Offerings (ICOs).

The TRV, which covers the second half of 2017, finds that overall risk levels for the EU’s securities markets remained stable but at high levels for most risk categories. However, February 2018 saw severe market corrections and the return of equity market volatility, confirming ESMA’s prevailing concerns. On the other hand, the level of credit risk eased, from very high to high, reflecting a strengthening macroeconomic environment and higher credit ratings in several EU Member States.