Working groups

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Accounting, Reporting & Audit Working Group

The Working Group for Accounting, Reporting and Audit offers representatives from accounting departments of listed companies a platform for discussing current topics relating to financial reporting and audit.

Current issues:
  • European and German initiatives in the area of financial reporting and auditing of financial statements
  • Practical issues of implementing the European Single Electronic Format (ESEF) in the financial reporting process and auditing ESEF documents
  • Effects of the Financial Market Integrity Strengthening Act on auditing practice
Contact:
  • Dr. Gerrit Fey, Head of Capital Markets Department, Tel. +49 69 92915-41, fey(at)dai.de
  • Nico Zimmermann, Policy Advisor Capital Markets Law and Corporate Governance, Tel. +49 69 92915-28, zimmermann(at)dai.de
Annual General Meeting of the Future Project Group

The forum, made up of representatives of listed companies, is committed to modernizing the Annual General Meeting and would like to anchor the virtual AGM as an option in stock corporation law. In addition, there are regular meetings on the current AGM season.

Current issues:
  • Government draft of a law on the introduction of virtual AGM
  • Modernization of the present AGM
  • Exchange on the implementation of the virtual AGM according to the Covid law as well as voluntary additional offers for investors
  • Exchange on investor expectations and best practices in conducting the AGM
Contact:
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:
  • Donato Di Dio, Policy Advisor Capital Markets Policy and Digitisation, Tel. +49 69 92915-34, didio(at)dai.de
  • Dr. Gerrit Fey, Head of Capital Markets Department, Tel. +49 69 92915-41, fey(at)dai.de
Compliance Working Group

The focus of our working group is on legal changes that have an impact on the compliance departments of our members. The working group contributes to political negotiations at national and international level and also works towards the practical implementation of new requirements in companies.

Current issues:
  • New EU Money Laundering Framework
  • Implementation of transparency register requirements
  • Whistleblower Protection Act (implementation of the Whistleblower Directive)
  • German and European legislation on due diligence in the supply chain
Contact:
  • Dr. Claudia Royé, Deputy Head of Legal Department, Head of Capital Markets Law, Tel. +49 69 92915-40, roye(at)dai.de
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
  • Reform and regulation of financial market benchmarks
Contact:
  • Dr. Gerrit Fey, Head of Capital Markets Department, Tel. +49 69 92915-41, fey(at)dai.de
  • Dr. Norbert Kuhn, Deputy Head of Capital Markets Department, Head of Corporate Finance, Tel. +49 69 92915-20, kuhn(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. The impact of sustainable finance regulation on corporate finance is an additional aspect on our agenda.

Current issues:
  • Exchange of experiences on the priorities and current requirements with regard to Debt IR
  • Practical impact of sustainable finance regulation on finance
Contact:
  • Dr. Gerrit Fey, Head of Capital Markets Department, Tel. +49 69 92915-41, fey(at)dai.de
  • Donato Di Dio, Policy Advisor Capital Markets Policy and Digitisation, 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
  • Tax incentives
  • Problems linked to cross-border employee participation schemes
  • Obstacles to introduction of employee shares
Contact: 
  • Dr. Norbert Kuhn, Deputy Head of Capital Markets Department, Head of Corporate Finance, 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.

Current Issues:
  • Key topics as needed and current developments in capital markets and corporate law
  • News from Brussels
Contact:
  •  Dr. Cordula Heldt, Head of Corporate Governance and Company Law, Tel. +49 69 92915-22, heldt(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:
  • Jessica Göres, Policy Advisor Sustainability, Tel. +49 69 92915-39, goeres(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:
  • Current German and European developments in capital market law obligations
  • Processes and law of the general meeting
  • Corporate Governance Regulation and Corporate Law Issues
  • Corporate Sustainability and CSRD Review
Contact:
  • Dr. Gerrit Fey, Head of Capital Markets Department, Tel. +49 69 92915-41, fey(at)dai.de
  • Dr. Claudia Royé, Deputy Head of Legal Department, Head of Capital Markets Law, Tel. +49 69 92915-40, roye(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.

Current Issues:
  • Current practical developments and innovations in the area of capital market and corporate law
Contact:
  • Dr. Claudia Royé, Deputy Head of Legal Department, Head of Capital Markets Law, Tel. +49 69 92915-40, roye(at)dai.de
  • Dr. Norbert Kuhn, Deputy Head of Capital Markets Department, Head of Corporate Finance, Tel. +49 69 92915-30, kuhn(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:
  • Sven Erwin Hemeling, Head of Primary Market Law, Tel. +49 69 92915-27, hemeling(at)dai.de
  • Dr. Gerrit Fey, Head of Capital Markets Department, Tel. +49 69 92915-41, fey(at)dai.de
Roundtable „Stock Market Listing“

The forum is especially for listed companies that are not part of the DAX 40. A meeting once or twice a year is planned.

Current issues:
  • Liquidity of shares
  • Analyst coverage
  • Investor targeting and communication
  • Current regulatory developments (e.g. general meetings and sustainability)
Contact:
  • Dr. Norbert Kuhn, Deputy Head of Capital Markets Department, Head of Corporate Finance, Tel. +49 69 92915-20, kuhn(at)dai.de
  • Svenja Balonier, Executive Advisor and Policy Advisor Capital Markets Policy, Tel. +49 69 92915-35, balonier(at)dai.de
Roundtable European Affairs

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:
Securities Prospectus 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:
  • EU consultation "EU Listing Act" to increase the attractiveness of public capital markets for EU companies and facilitate access to capital for SMEs
  • Legal issues relating to bonds
Contact:
  • Sven Erwin Hemeling, Head of Primary Market Law, Tel. +49 69 92915-27, hemeling(at)dai.de
Standards for Sustainability Reporting Project Group

The project group monitors the development of standards for sustainability reporting at European and international level. In addition to participants from the membership, the Accounting Standards Committee of Germany (ASCG) also participates in the project group. The group is co-chaired by an expert from BMW and meets every two weeks.

Aktuelle Themen:
  • Supporting the process of the development of standards for sustainability reporting of the European Financial Reporting Advisory Group/EFRAG
    Monitoring the process of the development of standards for sustainability reporting of the International Sustainability Standards Board/ISSB
Ansprechpartnerin:
  • Jessica Göres, Policy Advisor Sustainability, Tel. +49 69 92915-39, goeres(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
  • Corporate sustainability reporting directive
  • EU CSR strategy
  • Integrated reporting
  • German sustainability code
Contact:
  • Dr. Uta-Bettina von Altenbockum, Head of Communications, Tel. +49 69 92915-47, altenbockum(at)dai.de
  • Jessica Göres, Policy Advisor Sustainability, Tel. +49 69 92915-39, goeres(at)dai.de