One of the EU Commission’s key objectives in the 2020 Capital Markets Union Action Plan was to make the EU a safer place for citizens to invest their savings, with the aim of channeling private funding into the economy and toward the green and digital transition. Some of the main obstacles to retail investor participation in capital markets are the lack of access to relevant, comparable, and easily understandable information, the spread of unilateral and inappropriate marketing strategies, and the absence of financial advice that meets the interests of retail investors. To address these issues, the EU Commission initiated a legislative proposal on May 24, 2023, aimed at enabling retail investors to make investment decisions that reflect their individual preferences and ensuring that they are adequately protected and treated fairly. This retail investor strategy introduces new requirements regarding disclosure regulations, the role of financial advisors, and marketing practices, and develops benchmarks to determine whether the recommended and distributed financial products offer a favorable cost-benefit ratio. This could significantly strengthen retail investors’ confidence, allowing them to invest safely in their future and fully benefit from the EU Capital Markets Union.

The EU retail investor strategy is in an advanced stage of the legislative process in 2025. The first trilogue took place on March 18, 2025, but did not yield concrete results. Since the announcement of the Savings and Investments Union (SIU) agenda, the political focus has been on simplifying regulations for retail investors, so all parties now want to ensure that the Retail Investment Strategy (RIS) is compatible with the SIU.

The package includes:

• A regulation amending the PRIIP Regulation
• An omnibus directive providing for amendments to several existing directives:
  • MiFID II
  • IDD (Insurance Distribution Directive)
  • Solvency II
  • UCITS Directive
  • AIFM Directive

The final version of the directive will be published after the trilogue negotiations are concluded. Implementation into national law is expected to begin in 2026.

For further information on Deutsche Börse Group’s positioning on the matter, find our statements and position papers under Publications.

One of the EU Commission’s key objectives in the 2020 Capital Markets Union Action Plan was to make the EU a safer place for citizens to invest their savings, with the aim of channeling private funding into the economy and toward the green and digital transition. Some of the main obstacles to retail investor participation in capital markets are the lack of access to relevant, comparable, and easily understandable information, the spread of unilateral and inappropriate marketing strategies, and the absence of financial advice that meets the interests of retail investors. To address these issues, the EU Commission initiated a legislative proposal on May 24, 2023, aimed at enabling retail investors to make investment decisions that reflect their individual preferences and ensuring that they are adequately protected and treated fairly. This retail investor strategy introduces new requirements regarding disclosure regulations, the role of financial advisors, and marketing practices, and develops benchmarks to determine whether the recommended and distributed financial products offer a favorable cost-benefit ratio. This could significantly strengthen retail investors’ confidence, allowing them to invest safely in their future and fully benefit from the EU Capital Markets Union.

The EU retail investor strategy is in an advanced stage of the legislative process in 2025. The first trilogue took place on March 18, 2025, but did not yield concrete results. Since the announcement of the Savings and Investments Union (SIU) agenda, the political focus has been on simplifying regulations for retail investors, so all parties now want to ensure that the Retail Investment Strategy (RIS) is compatible with the SIU.

The package includes:

• A regulation amending the PRIIP Regulation
• An omnibus directive providing for amendments to several existing directives:
  • MiFID II
  • IDD (Insurance Distribution Directive)
  • Solvency II
  • UCITS Directive
  • AIFM Directive

The final version of the directive will be published after the trilogue negotiations are concluded. Implementation into national law is expected to begin in 2026.

For further information on Deutsche Börse Group’s positioning on the matter, find our statements and position papers under Publications.

One of the EU Commission’s key objectives in the 2020 Capital Markets Union Action Plan was to make the EU a safer place for citizens to invest their savings, with the aim of channeling private funding into the economy and toward the green and digital transition. Some of the main obstacles to retail investor participation in capital markets are the lack of access to relevant, comparable, and easily understandable information, the spread of unilateral and inappropriate marketing strategies, and the absence of financial advice that meets the interests of retail investors. To address these issues, the EU Commission initiated a legislative proposal on May 24, 2023, aimed at enabling retail investors to make investment decisions that reflect their individual preferences and ensuring that they are adequately protected and treated fairly. This retail investor strategy introduces new requirements regarding disclosure regulations, the role of financial advisors, and marketing practices, and develops benchmarks to determine whether the recommended and distributed financial products offer a favorable cost-benefit ratio. This could significantly strengthen retail investors’ confidence, allowing them to invest safely in their future and fully benefit from the EU Capital Markets Union.

The EU retail investor strategy is in an advanced stage of the legislative process in 2025. The first trilogue took place on March 18, 2025, but did not yield concrete results. Since the announcement of the Savings and Investments Union (SIU) agenda, the political focus has been on simplifying regulations for retail investors, so all parties now want to ensure that the Retail Investment Strategy (RIS) is compatible with the SIU.

The package includes:

• A regulation amending the PRIIP Regulation
• An omnibus directive providing for amendments to several existing directives:
  • MiFID II
  • IDD (Insurance Distribution Directive)
  • Solvency II
  • UCITS Directive
  • AIFM Directive

The final version of the directive will be published after the trilogue negotiations are concluded. Implementation into national law is expected to begin in 2026.

For further information on Deutsche Börse Group’s positioning on the matter, find our statements and position papers under Publications.

One of the EU Commission’s key objectives in the 2020 Capital Markets Union Action Plan was to make the EU a safer place for citizens to invest their savings, with the aim of channeling private funding into the economy and toward the green and digital transition. Some of the main obstacles to retail investor participation in capital markets are the lack of access to relevant, comparable, and easily understandable information, the spread of unilateral and inappropriate marketing strategies, and the absence of financial advice that meets the interests of retail investors. To address these issues, the EU Commission initiated a legislative proposal on May 24, 2023, aimed at enabling retail investors to make investment decisions that reflect their individual preferences and ensuring that they are adequately protected and treated fairly. This retail investor strategy introduces new requirements regarding disclosure regulations, the role of financial advisors, and marketing practices, and develops benchmarks to determine whether the recommended and distributed financial products offer a favorable cost-benefit ratio. This could significantly strengthen retail investors’ confidence, allowing them to invest safely in their future and fully benefit from the EU Capital Markets Union.

The EU retail investor strategy is in an advanced stage of the legislative process in 2025. The first trilogue took place on March 18, 2025, but did not yield concrete results. Since the announcement of the Savings and Investments Union (SIU) agenda, the political focus has been on simplifying regulations for retail investors, so all parties now want to ensure that the Retail Investment Strategy (RIS) is compatible with the SIU.

The package includes:

• A regulation amending the PRIIP Regulation
• An omnibus directive providing for amendments to several existing directives:
  • MiFID II
  • IDD (Insurance Distribution Directive)
  • Solvency II
  • UCITS Directive
  • AIFM Directive

The final version of the directive will be published after the trilogue negotiations are concluded. Implementation into national law is expected to begin in 2026.

For further information on Deutsche Börse Group’s positioning on the matter, find our statements and position papers under Publications.

One of the EU Commission’s key objectives in the 2020 Capital Markets Union Action Plan was to make the EU a safer place for citizens to invest their savings, with the aim of channeling private funding into the economy and toward the green and digital transition. Some of the main obstacles to retail investor participation in capital markets are the lack of access to relevant, comparable, and easily understandable information, the spread of unilateral and inappropriate marketing strategies, and the absence of financial advice that meets the interests of retail investors. To address these issues, the EU Commission initiated a legislative proposal on May 24, 2023, aimed at enabling retail investors to make investment decisions that reflect their individual preferences and ensuring that they are adequately protected and treated fairly. This retail investor strategy introduces new requirements regarding disclosure regulations, the role of financial advisors, and marketing practices, and develops benchmarks to determine whether the recommended and distributed financial products offer a favorable cost-benefit ratio. This could significantly strengthen retail investors’ confidence, allowing them to invest safely in their future and fully benefit from the EU Capital Markets Union.

The EU retail investor strategy is in an advanced stage of the legislative process in 2025. The first trilogue took place on March 18, 2025, but did not yield concrete results. Since the announcement of the Savings and Investments Union (SIU) agenda, the political focus has been on simplifying regulations for retail investors, so all parties now want to ensure that the Retail Investment Strategy (RIS) is compatible with the SIU.

The package includes:

• A regulation amending the PRIIP Regulation
• An omnibus directive providing for amendments to several existing directives:
  • MiFID II
  • IDD (Insurance Distribution Directive)
  • Solvency II
  • UCITS Directive
  • AIFM Directive

The final version of the directive will be published after the trilogue negotiations are concluded. Implementation into national law is expected to begin in 2026.

For further information on Deutsche Börse Group’s positioning on the matter, find our statements and position papers under Publications.

One of the EU Commission’s key objectives in the 2020 Capital Markets Union Action Plan was to make the EU a safer place for citizens to invest their savings, with the aim of channeling private funding into the economy and toward the green and digital transition. Some of the main obstacles to retail investor participation in capital markets are the lack of access to relevant, comparable, and easily understandable information, the spread of unilateral and inappropriate marketing strategies, and the absence of financial advice that meets the interests of retail investors. To address these issues, the EU Commission initiated a legislative proposal on May 24, 2023, aimed at enabling retail investors to make investment decisions that reflect their individual preferences and ensuring that they are adequately protected and treated fairly. This retail investor strategy introduces new requirements regarding disclosure regulations, the role of financial advisors, and marketing practices, and develops benchmarks to determine whether the recommended and distributed financial products offer a favorable cost-benefit ratio. This could significantly strengthen retail investors’ confidence, allowing them to invest safely in their future and fully benefit from the EU Capital Markets Union.

The EU retail investor strategy is in an advanced stage of the legislative process in 2025. The first trilogue took place on March 18, 2025, but did not yield concrete results. Since the announcement of the Savings and Investments Union (SIU) agenda, the political focus has been on simplifying regulations for retail investors, so all parties now want to ensure that the Retail Investment Strategy (RIS) is compatible with the SIU.

The package includes:

• A regulation amending the PRIIP Regulation
• An omnibus directive providing for amendments to several existing directives:
  • MiFID II
  • IDD (Insurance Distribution Directive)
  • Solvency II
  • UCITS Directive
  • AIFM Directive

The final version of the directive will be published after the trilogue negotiations are concluded. Implementation into national law is expected to begin in 2026.

For further information on Deutsche Börse Group’s positioning on the matter, find our statements and position papers under Publications.

One of the EU Commission’s key objectives in the 2020 Capital Markets Union Action Plan was to make the EU a safer place for citizens to invest their savings, with the aim of channeling private funding into the economy and toward the green and digital transition. Some of the main obstacles to retail investor participation in capital markets are the lack of access to relevant, comparable, and easily understandable information, the spread of unilateral and inappropriate marketing strategies, and the absence of financial advice that meets the interests of retail investors. To address these issues, the EU Commission initiated a legislative proposal on May 24, 2023, aimed at enabling retail investors to make investment decisions that reflect their individual preferences and ensuring that they are adequately protected and treated fairly. This retail investor strategy introduces new requirements regarding disclosure regulations, the role of financial advisors, and marketing practices, and develops benchmarks to determine whether the recommended and distributed financial products offer a favorable cost-benefit ratio. This could significantly strengthen retail investors’ confidence, allowing them to invest safely in their future and fully benefit from the EU Capital Markets Union.

The EU retail investor strategy is in an advanced stage of the legislative process in 2025. The first trilogue took place on March 18, 2025, but did not yield concrete results. Since the announcement of the Savings and Investments Union (SIU) agenda, the political focus has been on simplifying regulations for retail investors, so all parties now want to ensure that the Retail Investment Strategy (RIS) is compatible with the SIU.

The package includes:

• A regulation amending the PRIIP Regulation
• An omnibus directive providing for amendments to several existing directives:
  • MiFID II
  • IDD (Insurance Distribution Directive)
  • Solvency II
  • UCITS Directive
  • AIFM Directive

The final version of the directive will be published after the trilogue negotiations are concluded. Implementation into national law is expected to begin in 2026.

For further information on Deutsche Börse Group’s positioning on the matter, find our statements and position papers under Publications.

One of the EU Commission’s key objectives in the 2020 Capital Markets Union Action Plan was to make the EU a safer place for citizens to invest their savings, with the aim of channeling private funding into the economy and toward the green and digital transition. Some of the main obstacles to retail investor participation in capital markets are the lack of access to relevant, comparable, and easily understandable information, the spread of unilateral and inappropriate marketing strategies, and the absence of financial advice that meets the interests of retail investors. To address these issues, the EU Commission initiated a legislative proposal on May 24, 2023, aimed at enabling retail investors to make investment decisions that reflect their individual preferences and ensuring that they are adequately protected and treated fairly. This retail investor strategy introduces new requirements regarding disclosure regulations, the role of financial advisors, and marketing practices, and develops benchmarks to determine whether the recommended and distributed financial products offer a favorable cost-benefit ratio. This could significantly strengthen retail investors’ confidence, allowing them to invest safely in their future and fully benefit from the EU Capital Markets Union.

The EU retail investor strategy is in an advanced stage of the legislative process in 2025. The first trilogue took place on March 18, 2025, but did not yield concrete results. Since the announcement of the Savings and Investments Union (SIU) agenda, the political focus has been on simplifying regulations for retail investors, so all parties now want to ensure that the Retail Investment Strategy (RIS) is compatible with the SIU.

The package includes:

• A regulation amending the PRIIP Regulation
• An omnibus directive providing for amendments to several existing directives:
  • MiFID II
  • IDD (Insurance Distribution Directive)
  • Solvency II
  • UCITS Directive
  • AIFM Directive

The final version of the directive will be published after the trilogue negotiations are concluded. Implementation into national law is expected to begin in 2026.

For further information on Deutsche Börse Group’s positioning on the matter, find our statements and position papers under Publications.