CSSF: ESMA call for evidence on the retail investor journey: understanding retail participation in capital markets

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Last Updated on June 5, 2025 by Arnaud Collignon

Understanding the Retail Investor Journey: ESMA’s Call for Evidence

The European Securities and Markets Authority (ESMA) has recently issued a call for evidence aimed at enhancing the understanding of retail investor participation in capital markets. This initiative is crucial as it seeks to gather insights that can help shape future regulatory frameworks and improve investor experiences.

Why This Matters

Retail investors play a significant role in the financial markets, and understanding their journey is essential for several reasons:

  • Improved Regulation: Insights gained will inform regulatory measures that protect investors.
  • Enhanced Participation: By understanding barriers, regulators can promote greater retail participation.
  • Market Stability: A well-informed retail investor base contributes to overall market stability.

Key Areas of Focus

ESMA is particularly interested in the following aspects of the retail investor journey:

  • Awareness and understanding of investment products
  • Access to information and education
  • Decision-making processes and behavioral biases
  • Experiences with financial service providers

How to Contribute

Stakeholders, including financial institutions, consumer organizations, and individual investors, are encouraged to share their insights and experiences. Contributions can help shape a more inclusive and effective capital market environment.

Next Steps

Interested parties can submit their responses to ESMA by the specified deadline. This is an opportunity to influence the future of retail investing in Europe.

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