In a consultation launched by the BMJV Deutsches Aktieninstitut points out that the information requirements in long-distance selling according to the German Civil Code inadequately burdens companies when introducing employee share programs. Since there is no benefit of this information obligation, it has to be deleted for employee share programs.
In its position paper regarding the proposed "Fondsstandortgesetz" Deutsches Aktieninstitut basically welcomes the increase of the subsidies for employee share ownership from 360 Euro annually to 720 Euro annually. Nevertheless, in order to incentivice more companies to introduce employee share ownership plans the subsidy should be increased to at least 1.000 Euro which would also reflect common international practice.
In its comment on the national adoption of the Fourth EU-Anti-Money-Laundering Directive Deutsches Aktieninstituts asks for reliefs for the custody of employee shares.
Deutsches Aktieninstitut urges the EU Commission to reflect consequently the needs of companies seeking capital market finance and using derivates for risk management purposes in the Capital Markets Union. The current direction of the Capital Market Union still fails to meet this objective. This position paper has been contributed to the mid term review of the Capital Market Union project.
In its position paper Deutsches Aktieninstitut asks the European Commission to include emloyee share ownership as a further action point in the Capital Markets Union project. It is necessary to scrutinise existing European legislation posing obstacles for the implementation of employee share plans and to abandon bureacracy and facilitate cross-border implementation of employee share plans across Europe.
In order to promote public equity financing and equity culture in Germany Deutsches Aktieninstitut suggests to implement the recommandations developed by the round table initiated by the economics minister Gabriel as soon as possible.
The joint call for action to promote employee share ownership in Germany of ten associations - including Deutsches Aktieninstitut - asks the legislator to improve the institutional framework regarding employee particiption in order to increase its dissemination among German companies.
The position paper describes the advantages of employee shareownership and proposes measures in order to enhance the attractiveness of this kind of employee financial participation. According to this tax incentives should be increased and regulatory obstacles should be abandoned.
In the political guidelines for the next EU Commission Jean-Claude Juncker pledges to create a European Capital Markets Union in order to improve the financing of the European economy and in order to further integrate capital markets. This paper lays down Deutsches Aktieninstitut’s perspective on what should be the guiding principles of a proper functioning Capital Markets Union. Our key message is that the perspective on capital markets regulation has to be changed: capital markets, if ...
The equity culture in Germany takes the second hit in row. In 2014 the number of sharholders and holders of equity funds declines by 500.000 - despite of rising share prices. Only 8.4 million Germans (13.1 percent of the population) invest in the equity market. Due to the conservative structure of savings private households accumulate less wealth than they could. Deutsches Aktieninstituts therefore calls upon politicians to remove regulatory and other obstacles for share investments. The ...
In the first half of the year 2013 the number of direct shareholders has increased by 7.1 percent. Compared to 2012 additional 323.000 people have decided to invest in shares, so that there are now 4.9 million direct shareholders in Germany (7.1 percent of the population). This is the highest number since 2003. However, in the same space of time the number of people who invest in equity-based funds has decreased. Taking both developments together, the number of indirect and direct ...
Misunderstandings, bad feelings and a significant level of desinterest prevent Germans from investing money into shares. Even historically low interest rates have not increased their interest in equity investments. This is the core result of this study conducted by Deutsches Aktieninstitut and Börse Stuttgart. The study also develops ideas how the reservations could be overcome. The biggest push would result from the system of old age provision.
Together with EY Deutsches Aktieninstitut released a guideline explaining the steps for a successful implementation of employee share schemes (planning, design, compliance, communication and administration). These steps are illustrated by corporate examples.
The return triangle for employee shares developed by experts of the hkp/// group calculates returns of, by way of examples, employee share ownership programs of the indices DAX, MDAX, TecDAX und SDAX, and for companies belonging to the respective index. It considers specifics of employee shares, as discounts on the market value or bonus shares, provided after a given vesting period by the employer. Furthermore, the triangle takes into account allowances regarding taxes and social security ...
Focus: Federal Election 2017
Kurvenlage - Semi-Annual Report of Deutsches Aktieninstitut, 1st Term 2016 (in German)
Focus: Retirement Planning
Focus: Capital Markets Union
Focus: 50 years German stock corporation law
In a letter addressed to Federal Minister of Finance Olaf Scholz, Dr. Hans-Ulrich Engel, President of Deutsches Aktieninstitut, warns against the negative effects of the planned tax on shares for German economy and society. The tax on shares should not be pursued any further either at European level or by Germany alone. “We are concerned about the plans of the Federal Minister of Finance to levy a tax on shares”, emphasizes Dr. Hans-Ulrich Engel. In a personal letter addressed to the ...
With the „Berlin Appeal for more asset formation among employees” high-level representatives of the German economy and of trade associations call upon the future German government to create a better framework for employee equity participation. More employees must be able to participate in the economic success of their companies.
In 2014 about half a million people bid their shares or shares in funds farewell. Despite rising prices at the stock exchanges the number of share investors dropped the second year in a row. Only 8.4 million Germans, i.e. about 13 percent of the population, are invested in the share market. That is the alarming result of the newest survey of Deutsches Aktieninstitut regarding the number of shareholders in Germany.
In its position paper “More enthusiasm for employee shares in Germany: Adequate Incentives – Less Obstacles” published today, Deutsches Aktieninstitut sees a need for politicians to engage more in the support of employee share-schemes. Besides eliminating administrative barriers regarding the introduction of stock participation programs more tax advantages in Germany must be granted.
At the traditional Brussels reception of Deutsches Aktieninstitut the new EU Commissioner for Financial Stability, Lord Hill, and Markus Ferber, MEP, delivered speeches to more than 200 guests. Werner Baumann, President of Deutsches Aktieninstitut, outlined the expectations of the German economy on the European legislator and presented the latest positions paper of the institute „The Road to Growth: Setting Capital Markets Regulation Right”.
The complete press release in German is available for download below.
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