On 15th April 2024 the financial market authorities (Authorities) of Italy, Spain France and Austria have listed their key priorities for a macro prudential approach to asset management. In particular, CONSOB (Italy), the Comisión Nacional del Mercado de Valores (CNMV - Spain), the Autorité des marchés financiers (AMF - France) and the Finanzmarktaufsicht (FMA - Austria) have published their key priorities as part of the debate on the macro prudential approach to asset management and in view of the EU Commission's (“Commission”) forthcoming consultation on this topic. In recent years, risks arising from Non-Bank Financial Intermediation (NBFI) have been the focus of global regulators' attention, especially as their relative share in the global financial system has increased. Concerns have also been raised about the potential negative effects on the real economy of shocks spread through or generated by NBFI. The risks stemming from NBFI have been subject to scrutiny from regulators worldwide since the global financial crisis. The banking regulation tightening that followed, the desire to reduce the economy’s dependency on bank financing in a number of jurisdictions, as well as the low (including negative) interest rates policy, have resulted in an increase of the share of NBFI in the global financial syste...