News & Analysis as of

Germany Capital Markets

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

A&O Shearman

Regulatory monitoring - April 2025

A&O Shearman on

1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) Germany - Bundesbank: Updated directories of credit institutions and their associations in Germany on banking related information (Aktualisiertes...more

Hogan Lovells

Top Tips for Doing Capital Markets Deals in Germany (Updated)

Hogan Lovells on

This practical note was originally published by Practical Law Capital Markets. A practice note setting out top tips from German counsel for doing capital markets deals in Germany. It highlights issues of which lawyers from...more

Hogan Lovells

Public Takeovers in Germany Newsletter 2025

Hogan Lovells on

Welcome to the eighth edition of our newsletter “Public Takeovers in Germany”. It provides a market overview of public takeovers and other public offers carried out in Germany in 2024 in accordance with the German Securities...more

A&O Shearman

Regulatory monitoring - March 2025

A&O Shearman on

1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) EU - EBA: Updated methodology on the regulatory and supervisory equivalence of non-EU countries - Status: Final - The EBA has published its updated...more

White & Case LLP

Update German Public Takeovers 2024

White & Case LLP on

Our Public Takeover Report provides an overview of market trends and legal developments relating to public takeovers in Germany in 2024. A quick glance at the takeover market - With six delisting offers and one mandatory...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

A&O Shearman

Regulatory monitoring - November 2024

A&O Shearman on

1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) Germany - BReg: Government draft on the Second Future Financing Act (Regierungsentwurf zum zweiten Zukunftsfinanzierungsgesetz) Status: Draft - The...more

A&O Shearman

Regulatory monitoring - October 2024

A&O Shearman on

1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General (i) EU - ESRB: Speech on old and new frontiers of the ESRB: Systemic risk, non-banks and data analysis - Status: Final - The ESRB has published a...more

Hogan Lovells

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

Hogan Lovells on

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

A&O Shearman

Regulatory monitoring - September 2024

A&O Shearman on

1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) EU - EC: Report on the future of European competitiveness Status: Final - The EC has published a report on the future of European competitiveness,...more

A&O Shearman

Regulatory monitoring - August 2024

A&O Shearman on

1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) EU - EBA: Opinion on measures in accordance with Article 458 CRR following a notification by the De Nederlandsche Bank - Status: Final - The EBA has...more

Morrison & Foerster LLP

Fünf wesentliche Änderungen für Unternehmen

Seit dem 20. Juli 2024 gilt das Gesetz über Musterverfahren in kapitalmarktrechtlichen Streitigkeiten (KapMuG) in seiner überarbeiteten Fassung. Mit der Neufassung dieses Spezialgesetzes für die gerichtliche kollektive...more

Morrison & Foerster LLP

The New Capital Markets Model Case Act: Five Key Changes for Companies

Since July 20, 2024, a reformed version of the Capital Markets Model Case Act (Gesetz über Musterverfahren in kapitalmarktrechtlichen Streitigkeiten – Kapitalanleger-Musterverfahrensgesetz – KapMuG) has been in force in...more

A&O Shearman

Regulatory monitoring - July 2024

A&O Shearman on

1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) International - BCBS: Consultation on report regarding various technical amendments and FAQs - Status: Consultation - Deadline for the submission of...more

IR Global

Euro firms despite unexpected decline in German business sentiment

IR Global on

The euro trended higher on Monday, with the single currency able to shrug off some underwhelming German data. Meanwhile, the pound is trading sideways so far this morning, with GBP/EUR flat at €1.1817 and GBP/USD stable...more

White & Case LLP

Snapshot: Der deutsche Übernahmemarkt 2023

White & Case LLP on

Blick auf den Markt und die bedeutendsten Transaktionen - Die Analyse öffentlicher Übernahmen im Jahr 2023 erscheint auf den ersten Blick wie eine Blaupause des Vorjahres. Die bereits 2022 festgestellten Trends bestätigten...more

Hogan Lovells

Top tips for doing Capital Markets deals in Germany

Hogan Lovells on

A Practice Note setting out top tips from German counsel for doing capital markets deals in Germany. It highlights issues of which lawyers from outside Germany should be aware when doing capital markets work in Germany....more

Morrison & Foerster LLP

Update Kapitalmarkt- und Gesellschaftsrecht: Das Zukunftsfinanzierungsgesetz

Mit dem Gesetz zur Finanzierung von zukunftssichernden Investitionen (Zukunftsfinanzierungsgesetz – ZuFinG) will die Bundesregierung den Finanzstandort Deutschland stärken und Start-ups, Wachstumsunternehmen sowie kleinen und...more

A&O Shearman

The Financing for the Future Act: Reforms for German ECM transactions

A&O Shearman on

The Financing for the Future Act came into force on 15 December 2023. The significant reforms to stock corporation and capital market law increase flexibility in German ECM transactions. Overview of the key changes - ...more

Morgan Lewis

German Federal Court of Justice Strengthens Minimum Offer Price Rules Under German Securities Acquisitions and Takeover Act -...

Morgan Lewis on

The German Federal Court of Justice (FCJ), in two recent judgments (case numbers II ZR 219/21 and II ZR 220/21), awarded former shareholders of a target company that accepted a takeover offer payment claims for the difference...more

Morgan Lewis

German Federal Court of Justice Confirms Authorized Capital Purposes Are Flexible - Legal Insights Germany

Morgan Lewis on

In Reference II ZR 141/21 of May 23, 2023, the German Federal Court of Justice (FCJ) ruled that an authorization of the annual general meeting on the use of authorized capital that also provides for an authorization to...more

McDermott Will & Schulte

Investing in Healthcare & Life Sciences - An International Guide to Regulatory and Transactional Issues Across the Sector -...

As macroeconomic forces and geopolitical dynamics continue to shape the M&A and investment climate globally, health and life sciences transactions continue to remain high priority sectors presenting both high growth and...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

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