Codification of European Securities Regulation

• Applicant: Professor Dr. Rüdiger Veil
• Subject Area: Private Law ; Public Law
• Term: since 2021
• Project identifier: Deutsche Forschungsgemeinschaft (DFG) - Project number 491884974

The research project aims to develop principles for a codification of European securities regulation. In doing so, it aims to contribute to the project of a Capital Markets Union. The Background is that European capital markets law consists of numerous EU regulations and directives. This legal framework is intransparent, complex and systematically not structured. A codification facilitates access to the law and creates greater legal certainty for market participants. The debate triggered by a codification project also has an innovative effect, because the fundamental questions of European securities regulation have to be considered. This raises entirely new research questions: What is the function of regulatory objectives in a European capital markets code? What is the relationship between these objectives? How should the relationship between a European capital markets code and delegated legislation by the European Commission be structured? What is the value of a General Part in a codification act? Will a General Part contribute to a uniform understanding of terms and principles in the EU? Is it advisable to regulate accompanying aspects of private law? These fundamental questions are to be answered for market abuse law, corporate disclosure and rules of conduct for financial intermediaries.

• DFG Programme: Research Grants