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.

After ESMA forwarded the outcome of the various consultations on the specification of the new European Prospectus Regulation, the EU Commission has recently launched a consultation for a draft delegated Regulation. The draft Level 2 Regulation contains details on the format, content as well as scrutiny and approval of the prospectus. Deutsches Aktieninstitut has responded to the consultation and also reminded in its response that the objective of the reform of the EU prospectus regime was to facilitate capital market access. From the point of view of Deutsches Aktieninstitut, there should thus be no more burdens introduced on Level 2, since the new European Prospectus Regulation already contains various new burdens for capital market access.