The German voting right disclosure rules set forth in the German Securities Trading Act (Wertpapierhandelsgesetz – WpHG) have been significantly extended to financial instruments and other instruments, which (directly or indirectly) enable (ermöglichen) the holder or third parties to acquire ordinary (voting) shares that are German listed securities. In addition, as of March 26, 2012, new statutory notification and publication requirements for net short-selling positions in all financial instruments admitted to trading on a German regulated market will come into force (Sec. 30i WpHG).
View full memo: New German Long and Short Disclosure Regimes
