Working groups

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Blockchain and Electronic Securities Project Group

Digitisation of the capital market and in particular blockchain technology are increasingly in the line of vision of policy-makers and supervisory authorities. Our project group sees itself as a platform for a cross-sectoral exchange. It comprises primarily representatives of DAX companies and German stock markets.

Current issues:
  • Requirements on regulatory developments drawn from corporate practice and recommendations for political players
  • Perspective from the angle of primary (capital market) law, but also including technological aspects
  • Developments at European and national level
Contact:
  • Sven Erwin Hemeling, Leiter Primärmarktrecht, Tel. +49 69 92915-27, hemeling(at)dai.de
  • Donato Di Dio, Referent Kapitalmarktpolitik und Digitalisierung, Tel. +49 69 92915-34, didio(at)dai.de
     
Brexit Project

Member companies and law firms involved in this project turned their attention to the extensive economic relations between the EU and the United Kingdom at an early stage and identified relevant themes for the withdrawal negotiations die. Numerous publications have already been produced and an ongoing exchange between companies and policy-makers has resulted.

Current issues:
  • Recommendations to political lead negotiators
  • Discussions with lead negotiators at EU, federal and Länder level
Contact:
  • Maximilian Lück, Leiter EU-Verbindungsbüro, Tel. +32 2 7894101, lueck(at)dai.de
  • Jessica Göres, Referentin Nachhaltigkeit, Tel. +49 69 92915-39, goeres(at)dai.de
     
Collective Redress Project Group

The project group was founded against the background of rapidly advancing plans for the establishment of collective redress. It comprises company representatives and litigation experts and has already developed detailed positions on the German model declaratory action and on European collective redress.

Current issues:
  • Legislative procedure on the EU collective redress directive and national transposition (looking forward)
  • German model declaratory action procedure for consumers
Contact:

 

 

Corporate Finance/Treasury Working Group

Our working group is the central meeting point for the German finance/treasury community. It deals with the political dimension of financial and financial risk management and maintenance of contacts with policy-makers and watchdogs.

Current issues:
  • Derivatives regulation EMIR
  • MiFID II/MiFIR
  • EU payment services directive
  • Effects of bank and capital market regulation for non-financial companies
  • Financial transaction tax
  • Reform and regulation of financial market benchmarks
Contact:
  • Dr. Gerrit Fey, Leiter Fachbereich Kapitalmärkte, Tel. +49 69 92915-41, fey(at)dai.de
  • Dr. Norbert Kuhn, Leiter Unternehmensfinanzierung, Tel. +49 69 92915-20, kuhn(at)dai.de
     
DAX Roundtable Brussels

Representatives of our member companies’ European Affairs Offices come together in this forum to discuss current regulatory initiatives in European company and capital market law. Here, too, good contacts between business and policy-makers in Brussels is at the forefront.

Current issues:
  • Dialogue between companies and EU institutions
  • Current regulatory initiatives in European capital market legislation
  • Current developments in the EU institution
Contact:
  • Jan Bremer, Leiter Fachbereich Recht, Tel. +49 69 92915-61, bremer(at)dai.de
  • Maximilian Lück, Leiter EU-Verbindungsbüro, Tel. +32 2 7894101, lueck(at)dai.de
     
Debt Investor Relations Working Group

Capital market communication and reaching out to investors about corporate loans are the themes of our debt/IR working group. In dialogue with investors, rating agencies, banks and further market participants, IR managers discuss recent developments regarding issue of and trade in corporate loans. This working group also focuses on creditor relations.

Current issues:
  • Exchange of experience on status quo of debt IR
  • Priorities for requirements on debt IR
  • Further development of debt IR
Contact:
  • Dr. Gerrit Fey, Leiter Fachbereich Kapitalmärkte, Tel. +49 69 92915-41, fey(at)dai.de
  • Donato Di Dio, Referent Kapitalmarktpolitik und Digitalisierung, Tel. +49 69 92915-34, didio(at)dai.de
     
Employee Shares Working Group

In this working group we develop policy initiatives for improvement of the framework conditions for employee capital participation in Germany and offer a platform for exchange of experience.

Current Issues:
  • Broadening recourse to employee shares/employee capital participation
  • Guidelines for employee shares
  • Problems linked to cross-border employee participation schemes
  • Obstacles to introduction of employee shares
Contact: 
  • Dr. Norbert Kuhn, Leiter Unternehmensfinanzierung, Tel. +49 69 92915-20, kuhn(at)dai.de
     
European Capital Market Law Working Group

This working group brings together legal experts from leading business law firms among Deutsches Aktieninstitut’s membership. Participants discuss twice per year the latest legal priorities in Berlin and Brussels.

Contact:
  • Dr. Claudia Royé, Leiterin Kapitalmarktrecht, Tel. +49 69 92915-40, roye(at)dai.de
     
Investment Protection Project Group

The repeal of investment protection agreements between EU member states ordered by the European Court of Justice constitutes a watershed for internationally active companies. Our interdisciplinary project group works on policy proposals for alternative protection mechanisms.

Current issues:
  • Proposals for an EU-wide investment protection framework
  • Practical obstacles for EU investors regarding cross-border investment
Contact:
  • Maximilian Lück, Leiter EU-Verbindungsbüro, Tel. +32 2 7894101, lueck(at)dai.de
     
Issuer Law and IR Working Group

The legal affairs and investor relations departments of our listed corporate members are represented in this working group where we discuss recent developments in the areas of capital market law, investor relations and corporate governance.

Current issues:
  • Implementation of EU shareholder rights directive
  • Revision of German corporate governance code
  • Implementation of market abuse regulation and transparency directive plus BaFin issuer guidelines
  • Review of structure of EU supervisory authorities
  • Brexit
  • EU initiatives on collective redress and whistleblowing
  • Sustainable finance
Contact:
  • Dr. Gerrit Fey, Leiter Fachbereich Kapitalmärkte, Tel. +49 69 92915-41, fey(at)dai.de
  • Dr. Claudia Royé, Leiterin Kapitalmarktrecht, Tel. +49 69 92915-40, roye(at)dai.de
     
Money-laundering Prevention in Industrial Undertakings Working Group

The focus of this working group, which brings together compliance managers, is directed in particular to new developments arising from the two EU money laundering directives and their implementation in German law.

Current issues:
  • New elements for companies
  • Practical significance and implementation processes in companies
  • Observation of and participation in political negotiations
Contact:
  • Maximilian Lück, Leiter EU-Verbindungsbüro, Tel. +32 2 7894101, lueck(at)dai.de
  • Dr. Norbert Kuhn, Leiter Unternehmensfinanzierung, Tel. +49 69 92915-20, kuhn(at)dai.de
     
Munich Listed Companies Forum

We organise this forum of listed companies jointly with the law firm Milbank. Heads of legal affairs and investor relations departments of large issuers from Bavaria take this opportunity to exchange on topical practical developments a well as new elements in company and capital market law.

Contact:
  • Dr. Claudia Royé, Leiterin Kapitalmarktrecht, Tel. +49 69 92915-40, roye(at)dai.de
     
Registered Shares Working Group

In this working group, companies with registered shares exchange on regulatory developments, technical challenges and further topical questions surrounding registered shares. Above all, the focus is on how transparency in share registers can be achieved.

Current issues:
  • Regulatory developments
  • Improvement of technical procedures
  • Implementation of shareholder rights directive for registered shares
Contact:
  • Dr. Gerrit Fey, Leiter Fachbereich Kapitalmärkte, Tel. +49 69 92915-41, fey(at)dai.de
  • Sven Erwin Hemeling, Leiter Primärmarktrecht, Tel. +49 69 92915-27, hemeling(at)dai.de
Securities Prospectus and Loans Working Group

This working group actively flanks the relevant European legislative procedures with the objective of simplifying the drafting of securities prospectuses and hence improving the framework conditions for capital market financing.

Current issues:
  • Prospectus law, in particular revision of level 2 and 3rd act of the prospectus regulation
  • Legal issues relating to loans
Contact:
  • Sven Erwin Hemeling, Leiter Primärmarktrecht, Tel. +49 69 92915-27, hemeling(at)dai.de
  • Maximilian Lück, Leiter EU-Verbindungsbüro, Tel. +32 2 7894101, lueck(at)dai.de
     
Sustainability Working Group

In this working group, CSR managers devote attention to sustainability topics such as non-financial reporting or sustainable finance from the special perspective of companies oriented on the capital market.

Current issues:
  • Sustainable finance
  • EU taxonomy
  • EU directive on disclosure of non-financial information (CSR directive, non-binding guidelines)
  • Supply chain
  • EU CSR strategy
  • Integrated reporting
  • German sustainability code
Contact: