The European Securities and Markets Authority (ESMA) has launched a Call for Evidence (CfE) to better understand how retail investors engage with investment services and identify potential regulatory or non-regulatory barriers to participation in capital markets. The CfE explores key retail market trends, the practical application of MiFID II requirements, and additional areas such as the investor experience under the European framework. ESMA also published a summary of the main points translated into all EU languages to facilitate responses from consumers and their representatives. The goal is to support efficient simplification and burden reduction measures, assessing whether current rules support or hinder retail investor participation. Interested parties, including firms, trade associations, and consumer organizations, are invited to submit their input by July 21, 2025. Based on the responses, ESMA will assess whether specific regulatory adjustments or clarifications are needed to enhance investor protection and retail engagement in financial markets. The CfE aims to strike the right balance between investor protection and enabling informed risk-taking. The CfE is part of ESMA's broader efforts to support efficient simplification and burden reduction measures. The CfE will help ESMA to understand how to simplify current rules to help investors better engage with capital markets without weakening existing protections.