JD Supra (JD Supra Germany)

1. Bank regulation- 1.1 Prudential regulation- (a) General- (i) International- BCBS: Basel III monitoring report- Status: Final- BCBS has published its latest monitoring report setting out the impact of the Basel III framework, based on data as of 30 June 2023. It shows that initial Basel III capital ratios for a sample of the largest global banks were largely stable and above prepandemic...

Herzlich willkommen zur siebten Ausgabe unseres Newsletters “Öffentliche Übernahmen in Deutschland”. Er gibt einen Marktüberblick über die im zurückliegenden Jahr 2023 in Deutschland nach dem Wertpapier- und Übernahmegesetz (WpÜG) durchgeführten öffentlichen Übernahmen und die aktuelle Rechtsentwicklungen im deutschen Übernahmerecht. Als eine global agierende Rechtsanwaltskanzlei beobachten wir...

Welcome to the seventh edition of our newsletter “Public Takeovers in Germany”. It provides a market overview of public takeovers carried out in Germany in 2023 in accordance with the German Securities Acquisition and Takeover Act (“WpÜG”) and of recent developments in German public takeover law. As a globally law firm, we are constantly observing the M&A markets in Germany and abroad.

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 sich, insbesondere die zahlenmäßig recht geringe Anzahl an Transaktionen mit durchschnittlich niedrigen Transaktionsvolumina, die bedeutende Rolle von Private Equity-Bietern

Anyone can establish a business in Germany - irrespective of citizenship, nationality, or place of residence. There is no specific investment legislation for foreign entrepreneurs. Any entrepreneur can make his choice from an exclusive group of different types of legal entities to establish a new company in Germany.

On 30 December 2023 the German Secondary Credit Market Promotion Act (Kreditzweitmarktförderungsgesetz) entered into force, which simplifies dealing in non-performing loans (“NPLs“) by introducing a new law, the German Secondary Credit Market Act (Kreditzweitmarktgesetz).

Mit dem Jahreswechsel ist das Gesetz zur Modernisierung des Personengesellschaftsrechts (kurz „MoPeG“) in Kraft getreten und hat erhebliche Änderungen insbesondere für die Gesellschaften bürgerlichen Rechts („GbR“) gebracht: Für GbRs besteht nun die Möglichkeit (nicht die Pflicht!), im neu geschaffenen Gesellschaftsregister eingetragen zu werden und damit den Status einer „eingetragenen GbR“ („

In this series, we provide advice on drafting English-language contracts that are governed by German law. We will refer to these as international cooperation agreements moving forward. We focus on automotive finance contracts, such as factoring agreements for vehicle purchase price receivables, and white-label cooperation agreements between a financial services provider or a bank and a...

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 - The key parts of the Financing for the Future Act (Zukunftsfinanzierungsgesetz) (ZuFinG) came into force on 15 December 2023. The new law is intended to strengthen the...

The right to set off a claim is a legal concept through which reciprocal claims between a creditor and a debtor company are settled against each other reducing or extinguishing the smaller claim and leaving only a balance outstanding. A right of setoff may constitute a self-help remedy upon which a creditor can rely without the assistance of the Courts. In an insolvency situation, a right of set-o

The EBA has published the European Supervisory Examination Programme (ESEP) for 2024, which identifies key topics for heightened supervisory attention across the EU. The EBA selected three key topics for supervisory attention for 2024 on the basis of its EU-wide risk analysis, its relevant policy work and the practical experience of competent authorities: liquidity and funding risk, interest rate

Die Verhängung von Geldbußen nach Art. 83 DS-GVO nimmt in der Praxis eine immer wichtigere Stellung ein. Deutsche und andere europäische Aufsichtsbehörden verhängen immer mehr und höhere Bußgelder wegen Datenschutzverstößen. Viele Fragen zur Verhängung solcher Geldbußen sind dabei sehr umstritten. Die Zeitschfit für Datenschutz (ZD) hat mit Dr. Marc Philipp Weber, Tim Wybitul und Dr. Arne...

The Morgan Lewis Takeover Monitor documents public tender ofers in Germany for Morgan Lewis clients and interested persons. This issue covers published and announced current offers as of August 24, 2023. In addition, it informs about two recent judgments by which the German Federal Court of Justice awarded payment claims to former shareholders of a target company that accepted a takeover offer,

While the German capital continues its political efforts to tackle the housing crisis, a commission has validated the feasibility of expropriating housing providers. On June 28, 2023, a legal expert commission appointed by the City of Berlin (Commission) published its final report (Report), examining whether private residential investors could be expropriated under certain conditions....

The German takeover market is declining and has shown clear signs of having been affected by the current economic and geopolitical environment. The number of takeovers and the total offer volume have both fallen significantly. While there were as many as 33 takeovers with a total volume of EUR 67.1 billion in 2021, there were only 18 with a total volume of EUR 5.3 billion in the first 11 months...

Companies operating in Germany should implement reporting mechanisms or adapt their existing ones to comply with the new legal requirements. The German Whistleblower Protection Act (Hinweisgeberschutzgesetz — HinSchG) will enter into force on 2 July 2023. The HinSchG is the (albeit late) German implementation of the EU Whistleblower Directive, which entered into force on 16 December 2019 and...

The Supply Chain Act poses new challenges to suppliers when conducting business with new or existing German-based customers. Key Points: ..The Supply Chain Act obliges in-scope companies to identify, address, and report on human rights-related and environmental risks in their supply and value chains. ..Suppliers to German businesses should familiarize themselves with this legislation...

Anyone can establish a business in Germany - irrespective of citizenship, nationality, or place of residence. There is no specific investment legislation for foreign entrepreneurs. Any entrepreneur can make his choice from an exclusive group of different types of legal entities to establish a new company in Germany. Please see full Chapter below for more information.

Herzlich willkommen zur sechsten Ausgabe unseres Newsletters “Öffentliche Übernahmen in Deutschland”. Er gibt einen Marktüberblick über die im zurückliegenden Jahr 2022 in Deutschland nach dem Wertpapier- und Übernahmegesetz (WpÜG) durchgeführten öffentlichen Übernahmen und die aktuellen Rechtsentwicklungen im deutschen Übernahmerecht. Als eine global agierende Rechtsanwaltskanzlei beobachten wir

This 13th edition of The Technology, Media and Telecommunications Review provides updated overviews of legal and policy constructs and developments in the TMT arena across 18 jurisdictions around the world. As in years past, our goal with this publication is to provide a practical, business-focused survey of these issues, along with insights into how regulatory activity in this arena continues to

The Morgan Lewis Takeover Monitor documents public tender ofers in Germany for Morgan Lewis clients and interested persons. This issue covers published and announced current offers as of November 23, 2022. PUBLIC TENDER OFFERS UNDER THE GERMAN SECURITIES ACQUISITION AND TAKEOVER ACT (WpÜG): OFFERS, RESULTS, AND ANALYSES CURRENT OFFERS The current offers aim at a delisting of the respective...

In substantially all the major world markets, we have dedicated technology lawyers who support young German technology companies on their growth trajectory through all stages. As one of the top tech law firms in the world, we are particularly committed to bringing the American and German entrepreneurship ecosystems closer together. For this purpose, we have launched the Orrick Legal Ninja Series (

The German Federal Ministry of Economics and Climate Action (BMWK) has proposed a small, but almost revolutionary 11th amendment of the German Act Against Restraints of Competition. It is expected to come into effect in early 2023. The proposed reform would bring about three key changes...

Under the draft law, the FCO could impose behavioural and structural remedies following a sector inquiry without finding an infringement of German or EU competition law. The German Federal Ministry for Economic Affairs and Climate Action (Bundeswirtschaftsministerium (BMWK)) has published a draft law that would grant the Federal Cartel Office (FCO) broad and unprecedented powers to remedy...

On 1 January 2023, the German Supply Chain Due Diligence Act will enter into force. In a first step, all companies which have a specific nexus to Germany and normally employ 3,000 people or more will have to comply with newly imposed due diligence obligations aimed at minimising the risk of infringements of human rights and environmental standards. Suppliers to such companies are already being...

Competition authorities across the globe are increasingly enforcing procedural merger control rules monitoring the exchange of competitively sensitive information. This turns the spotlight on the use of clean teams in M&A transactions. Although the clean team concept is well established and now, for the first time, mentioned in the draft revised Horizontal Guidelines of the European Commission,...

Our Hamburg-based German antitrust team has contributed a chapter on Germany to Lexology Get The Deal Through’s global report on Pharmaceutical Antitrust. In their contribution, they provide guidance on the regulatory framework, merger control aspects and potential enforcement risks with regard to anticompetitive agreements as well as anticompetitive unilateral conduct for those active in the...

On May 12, 2022, the European Data Protection Board (EDPB) published its long-awaited Guidelines 04/2022 on the calculation of fines under the General Data Protection Regulation (GDPR). After many data protection authorities only cautiously approached fining data protection violations immediately after the introduction of the GDPR, sanctioning has clearly picked up speed in the past year and...

Environmental law covers a range of legal areas which are often of crucial importance for investment projects in approval procedures under emissions control law and sectoral planning law or in other legal fields. The main elements of environmental law include emissions control law, water law, soil conservation and contamination law, nature conservation law, mining law and nuclear law. Reliable,...

The new German government has ambitious targets for offshore wind: It aims at more than 70GW of offshore wind by 2045. At least 30GW of offshore wind capacity shall be installed by 2030 already. Less than 10GW are currently in operation. This means that more than 20GW of offshore wind capacity needs to be commissioned in little more than eight years. Hence, the German government plans offshore...