Over the last few years, the sale of complex products to retail investors, generally referred to as ‘retailisation’, has increased in Europe. The growth of this market can have implications in terms of financial stability as well as investor protection, and has, therefore, been subject to important policy initiatives, such as the European Commission proposed Regulation on Packaged Retail Investment Products (PRIPs), as well as ESMA measures in the area of UCITS (such as the Guidelines ETFs and other UCITS issues) and MiFID (such as the technical advice to the Commission as part of the MiFID review, the Q&A on complex and non complex financial instruments for the purposes of MiFID’s appropriateness requirements, and the Guidelines on suitability), and informs on-going work.