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.

In 2018, Deutsches Aktieninstitut discussed with the German Federal Financial Supervisory Authority to what extent the operation of centralized cash management systems by non-financial companies requires a license as a payment service provider. The reason for that discussion was a lack of clarity in the EU Payment Services Directive (PSD 2). In its reply on the consultation on the "EU retail payment strategy" Deutsches Aktieninstitut called for clarification.