The New Regulation Of Delisting In The German Stock Exchange Act

Sedes materiae of the "Delisting" is § 39 of the German Stock Exchange Act (B？rsG) new version which had been subject to five different regulatory regimes within 18 years of its revision. The new version is shaped by the conflict of the legislative to increase the attractiveness of the German stock exchange in the European competition, without at the same time counteracting investors' interests. Thereby, the legislative strives to remain faithful to its basic decision to settle the new regulation in the German Stock Exchange Act and regulates the requirements consequent – with few exceptions – according to the capital market solution. The present article examines the new regulation, especially by considering the interests of investors and undertakes it a critical evaluation