With our position papers we engage in political debates and expert discussions regarding capital market issues - representing the interests of our members. Each year, numerous and detailed positions cover the various areas of our work: the primary market, the secondary market, the governance of listed companies and the economic education.
Below you will find our position papers which focus on European legislation - mostly in English and partially in German language. All our positions including papers with focus on national topics you will find on our German website.
The position paper comments on the draft of the EU Commission, published on the 11/30/2015. Deutsches Aktieninstitut opposes the idea of allocating risk factors into categories and restricting their number in the summary since this approach would give especially retail investors a false sense of security. The abolishment of the 100k bond exemption and facilitations is grounded on wrong assumptions. Moreover, 32 empowerments of the EU Commission and ESMA make it uncertain, if the new prospectus regime will really lead to facilitations. Therefore, this number has to be reduced.
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