The European Securities and Markets Authority has launched a call for evidence on the retail investor journey under MiFID II to gather stakeholder feedback on how retail investors engage with investment services and whether regulatory or non-regulatory barriers may be discouraging participation in EU capital markets. The exercise covers key retail market trends, including the appeal of speculative products for younger investors and the influence of social media on investment decisions. It also examines how MiFID II requirements operate in practice, focusing on regulatory disclosures and the assessment of suitability and appropriateness, alongside investor experience under the European crowdfunding framework and broader questions around balancing investor protection with enabling informed risk-taking. ESMA also published a translated summary of the main points in all EU languages to support input from consumers and their representatives. Responses are due by 21 July 2025. ESMA and National Competent Authorities will use the feedback to assess whether regulatory adjustments or clarifications are needed to strengthen investor protection and improve retail engagement in financial markets.
European Securities and Markets Authority 2025-05-21
European Securities and Markets Authority launches MiFID II call for evidence on the retail investor journey
The European Securities and Markets Authority (ESMA) has called for evidence on the retail investor journey under MiFID II to assess engagement with investment services and potential barriers in EU capital markets. The exercise examines trends like speculative product appeal and social media influence, and evaluates MiFID II's practical application, including regulatory disclosures and suitability assessments. Feedback will inform potential regulatory adjustments to enhance investor protection and retail market participation.