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.

In its proposal for a review of the EU supervisory architecture, the EU Commission significantely extends competences of the European Securities and Markets Authority (ESMA). In its position paper Deutsches Aktieninstitut compares the currently discussed EU Parliament`s draft report with the EU Commission proposal. Whilst we recognize improvements as to accountability and control of EU Supervisory Authorities by the EU legislator as well as stakeholders, the draft report nevertheless largely follows the EU Commission proposal to significantely extend the competences of EU Supervisory Authorities. We are concerend about the latter developments as functioning and well established mechansims on local/national level are being jeopardized.