Position Papers

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.

Deutsches Aktieninstitut welcomes the level II Regulation draft on the SRD II which will help to further improve and harmonise information flows between companies, intermediaries and shareholders and, in turn, will ease to practice shareholders’ rights cross border within the EU.

Though we basically welcome the draft, some work remains to be done. Overall, it has to be ensured that the final Regulation works together with existing company laws as well as the needs of issuers to have legal certainty on the important issue of shareholder rights, to reliably identify end investors and to comply with the new standards in a manner that is cost-efficient and takes care of existing practices to the extent possible. Furthermore the draft of the level II act contains a number of technical terms and considerations that are difficult to understand without further explanations.