Archiv für die Kategorie ‘Capital Markets and Securities Law’

Electronic Securities and Crypto Securities in Germany

Sep 29, 20 • Blockchain, Capital Markets and Securities Law • No Comments • Dr. Annette Wagemann

Corporate financing by issuing blockchain-based securities in fully digital form becomes possible On August 11, 2020, the German Federal Ministry of Justice and the Federal Ministry of Finance published a draft law on the introduction of electronic securities. This paper is […]
Introduction of Electronic Securities in Germany: This Is A Challenge For Issuers

Apr 3, 20 • Capital Markets and Securities Law • No Comments • Dr. Annette Wagemann

Digitization effects and innovative technologies such as the blockchain increasingly influence the financial market. The German Federal Ministry of Justice and Consumer Protection, together with the Federal Ministry of Finance, has responded with a key issues paper on the introduction of […]
Obligations of Issuers of Financial Instruments in Germany

Jun 28, 19 • Banking Regulations, Capital Markets and Securities Law • No Comments • Dr. Annette Wagemann

Companies raising money on the capital market by issuing shares or debt securities usually have to publish an information prospectus for investors. However, it is not enough for issuers to publish this so-called securities prospectus. There are a number of other […]
German BaFin Classifies Tokenised Investments as Securities

May 13, 19 • Banking Regulations, Capital Markets and Securities Law, Digital Currencies, German Banking & Finance Law • No Comments • Benjamin Kirschbaum

In its latest journal, the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungen, BaFin) has addressed the regulatory assessment of financial instruments that are brought onto the blockchain. This so-called tokenisation means that instruments such as shares, bonds or subordinated loans can […]
Public Offerings and ICOs About to Become Much Easier in Germany?

Jun 28, 18 • Capital Markets and Securities Law • No Comments • Stefan Winheller

Federal government is planning a “short prospectus” for public offerings of up to eight million euros Whenever a company wishes to realize a business project or a large investment, the question about the financing will inevitably arise. Beyond traditional bank financing […]
How Does Financing a Start-up Through an ICO Work in Germany?

May 9, 18 • Blockchain, Capital Markets and Securities Law, Digital Currencies • No Comments • Stefan Winheller

Initial Coin Offerings (ICOs) are presently probably the most hyped way of procuring venture capital not only in Germany but worldwide. ICOs associate elements of crowdfunding with Blockchain technology. By the end of March 2018 alone, this innovative financing mechanism generated […]
Standardization of Prospectus Requirements Under European Prospectus Regulation

Jun 29, 17 • Capital Markets and Securities Law • No Comments • Dr. Annette Wagemann

The European Parliament approved the regulation on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market. The new law is part of the European Capital Markets Union which is planned […]
Providers of Investments Required to Publish Prospectuses in Germany

Mar 31, 17 • Capital Markets and Securities Law • No Comments • Dr. Annette Wagemann

In 2017, the Act Amending Financial Market Regulations came into effect in Germany. The expansion of the obligation to draw up a prospectus has a particularly strong effect for providers of investments such as wood, container or other material investments. Previously, […]
Reducing liability risks by investment prospectuses

Dec 28, 16 • Capital Markets and Securities Law • No Comments • Dr. Annette Wagemann

Any so-called soft costs contained in an investment need to be described in the related investment prospectus in an accurate and easily understandable way. This ensures that investors can see how much of their money will not be spent on the […]