ESMA, the EU's financial markets regulator, initiated a call for evidence to simplify supervisory reporting. This initiative aligns with ESMA's data strategy and aims to reduce the burden on market participants. The goal is to improve efficiency and decrease costs while maintaining transparency and effective oversight. The call for evidence addresses issues like overlapping reporting obligations and duplicative reporting channels. ESMA presents two simplification options: eliminating overlaps or creating a unified "report once" template. ESMA will not propose changes to existing transaction, order, and reference data reporting frameworks during the MiFIR review. This allows market participants to pause implementation efforts, reducing short-term costs. ESMA is publishing final reports summarizing feedback on the MiFIR review. Interested parties can submit contributions by September 19th. ESMA will engage with stakeholders to assess the feasibility of the proposed options. A final report, outlining key cost drivers and the proposed approach, will be published by early 2026.