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Financial Markets Germany

Hogan Lovells

Investments in German soccer clubs – attractive for investors and clubs despite the 50+1 rule

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Investments in clubs in German soccer are attractive for investors and clubs even under the 50+1 rule; the investor and the soccer club should be a suitable match; there are a number of legal structuring options for...more

White & Case LLP

Current Forces of Debt Finance in Europe

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Current Forces of Debt Finance in Europe - The European Debt Finance market faced a complex landscape in Q1 2025, influenced by global trade tensions, evolving fiscal policies, and shifting interest rates. Impact of U.S....more

Orrick, Herrington & Sutcliffe LLP

#FounderTeams in German Start-ups – Part II: Founder Equity Distribution Patterns

Our research analyzed founder teams and equity distributions across almost 2,200 German start-ups established between 2019 and 2024, each having secured external funding through angel investors or (corporate) venture capital....more

McDermott Will & Schulte

Turbo-Zertifikate im Visier – BaFin plant neue Produktintervention

The Federal Financial Supervisory Authority has announced that it intends to restrict trading in so-called "turbo certificates", i.e. MiFID bonds that leverage the performance of an underlying asset and expire immediately...more

Mayer Brown

German Parliament Passes Act on the Digitalisation of Financial Markets

Mayer Brown on

On 18 December 2024, the German Parliament (Bundestag) passed the Act on the Digitalization of Financial Markets (Finanzmarktdigitalisierungsgesetz, the "Act"). The Act is intended to complement key measures of the European...more

Latham & Watkins LLP

German Parliament Passes Financial Market Digitisation Act

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The FinmadiG introduces material implementation measures for the European Digital Finance Package....more

Hogan Lovells

Understanding the proposed changes to the delisting process under the Second Future Financing Act

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On 27 August 2024, the German Federal Ministry of Finance published the draft for the so called Second Future Financing Act (Zweites Zukunftsfinanzierungsgesetz – ZuFinG II). This proposal builds on the First Future Financing...more

Mayer Brown

BaFin Provides Guidance on Accelerated Review of Equity Prospectuses

Mayer Brown on

In line with broader efforts to remove procedural deterrents from issuers engaging in securities offerings, for about the past year, the German Federal Financial Supervisory Authority (Bundesanstalt für...more

McDermott Will & Schulte

Erlaubnispflicht für Kreditdienstleister – Dienstleistungen für Non-Performing-Loans sind jetzt erlaubnispflichtig

Mit dem Inkrafttreten des Kreditzweitmarktgesetzes am 30. Dezember 2023 sind Dienstleistungen in Bezug auf sogenannte Non-Performing-Loans, also Kredite, die nicht mehr bedient werden oder vom Ausfall bedroht sind,...more

A&O Shearman

Regulatory monitoring Newsletter - January 2024

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1. Bank regulation - 1.1 Prudential regulation - (a) General - (i) Germany - BaFin: Report on risks in focus 2024 (Report über Risiken im Fokus 2024) Status: Final - BaFin has published its annual report on the risks...more

McDermott Will & Schulte

FinmadiG und KMAG – Umsetzung der europäischen Krypto-Finanzmarktregulierung in Deutschland

Der deutsche Gesetzgeber hat auf die Vereinheitlichung der europäischen Finanzmarktvorschriften geantwortet: Im Oktober 2023 hat das Bundesministerium der Finanzen den Referentenentwurf für das Gesetz über die Digitalisierung...more

McDermott Will & Schulte

Update Zukunftsfinanzierungsgesetz – Fokus Aktien- und Kapitalmarktrecht

Mit dem ehrgeizigen Ziel, die Leistungsfähigkeit des deutschen Kapitalmarkts zu stärken und die Attraktivität des deutschen Finanzstandortes auf dem europäischen Finanzplatz zu erhöhen, wurde am 12. April 2023 der...more

McDermott Will & Schulte

Update Future Financing Act - Focus on Financial Supervisory Law

With the ambitious goal of strengthening the performance of the German capital market and increasing the attractiveness of Germany as a financial location in the European financial center, the draft bill for a law on the...more

Morgan Lewis

Germany’s Financing for the Future Act: Draft Bill Published

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The draft bill for Germany’s Financing for the Future Act (Zukunftsfinanzierungsgesetz - ZuFinG) was published on April 12, 2023. The planned modernization measures are intended to strengthen the performance of the German...more

Morrison & Foerster LLP

Referentenentwurf des Zukunftsfinanzierungsgesetzes veröffentlicht – Steuerfreiheit von Mitarbeiterbeteiligungsprogrammen in...

Mitarbeiterbeteiligungsprogramme gehören seit vielen Jahren zu den unternehmerischen Maßnahmen zur Gewinnung und Förderung von Mitarbeitern. Je nach Ausgestaltung des Beteiligungsprogramms kann die Gewährung von Anteilen im...more

Morrison & Foerster LLP

Draft of Future Financing Act Published – Tax-Free Share Schemes to Come?

The taxation of share schemes (“Mitarbeiterbeteiligungsprogramme”) as an instrument for recruitment and development of employees is, in part, regarded as problematic in Germany. Depending on the structure of the share scheme,...more

Hogan Lovells

Update zum Transparenzregister: Ende der letzten Übergangsfrist zum 31. Dezember 2022 und Neuigkeiten vom EuGH

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Durch das Transparenzregister- und Finanzmarktinformationsgesetz (TraFinG) wurden im Zuge der Umwandlung des Transparenzregisters von einem Auffang- zu einem Vollregister Übergangsfristen für nun meldepflichtige...more

Robins Kaplan LLP

EY to Pay Record Fine to SEC Over Cheating on Ethics Test

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Auditing giant Ernst & Young will pay $100 million to U.S. authorities as part of a deal to resolve claims that “some of its auditors had cheated on ethics exams—and that the firm had done nothing to stop the practice.” That...more

Robins Kaplan LLP

Financial Daily Dose 11.9.2021 | Top Story: Storied Conglomerate General Electric to Split into Three Separate Companies

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General Electric, the “129-year-old industrial conglomerate” founded by Thomas Edison, will fracture into three separate publicly traded companies—the latest effort by the struggling behemoth and CEO Larry Culp to “simplify...more

White & Case LLP

Top considerations –EMEA Tax trends impacting Private Equity Real Estate in 2021

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White & Case has advised a large number of high-profile international clients on cutting-edge, cross-border and domestic private equity real estate deals, providing valuable strategic tax insight to a broad range of investors...more

Jones Day

German Regulator Combats Greenwashing by Proposing Guidelines on "Sustainable" Investment Funds

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The German Federal Financial Supervisory Authority ("BaFin") has published a consultation on draft guidelines for sustainable investment funds containing specifications on what UCITS and AIF management companies must include...more

Morgan Lewis

Germany’s New Financial Market Integrity Strengthening Act

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The Financial Market Integrity Strengthening Act includes a large number of innovations aimed at strengthening confidence in the German financial market by placing more comprehensive obligations on auditors when auditing...more

K&L Gates LLP

Reform of the DAX, the German Blue Chip Stock Market Index

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Deutsche Börse will expand the DAX to 40 companies in September 2021. At the same time, the MDAX will be reduced from 60 medium-sized companies to 50 companies. Stricter admission criteria will also apply....more

White & Case LLP

Short selling bans and market restrictions – Considerations for investors (Updated May 2020)

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A number of regulators across the globe responded to recent market volatility by introducing temporary short selling bans and/or market restrictions. Such bans have since expired as of 18 May 2020. Other regulators (including...more

Robins Kaplan LLP

Financial Daily Dose 1.31.2020 | Top Story: IBM CEO Ginni Rometty is Out After Eight Years at the Helm

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In a week that’s already seen plenty of C-suite shakeups, we’ve learned that Ginni Rometty is stepping down from her role as CEO at IBM. The company’s cloud computing chief, Arvind Krishna, will take over for her, though...more

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