On 31 July 2014, the European Supervisory Authorities (the EBA, ESMA and the European Insurance and Occupational Pensions Authority) published a statement reminding banks and insurance firms that they are expected to comply with all EU requirements when placing financial instruments with depositors, retail investors and policy holders. The ESAs are concerned that firms are using self placement as a means of complying with the recently introduced enhanced prudential requirements, such as the capital requirements legislation, the BRRD and Solvency 2, and in so doing, do not comply with their other legal obligations and may put investors at risk.

The statement is available at: https://eiopa.europa.eu/joint-committee/index.html.