Securities Prospectus Act
| Basic data | |
|---|---|
| Title: | Law on the compilation, approval and , publication of the prospectus of the public offering of securities or the admission of securities to trading on a regulated market to be published |
| Short title: | Securities Prospectus Act |
| Abbreviation: | WpPG |
| Type: | Federal law |
| Scope: | Federal Republic of Germany |
| Legal matter: | Commercial law |
| References : | 4110-9 |
| Issued on: | June 22, 2005 ( BGBl. I p. 1698 ) |
| Entry into force on: | July 1, 2005 |
| Last change by: |
Art. 60 G of November 20, 2019 ( Federal Law Gazette I p. 1626, 1662 ) |
| Effective date of the last change: |
November 26, 2019 (Art. 155 G of November 20, 2019) |
| GESTA : | B030 |
| Please note the note on the applicable legal version. | |
The Securities Prospectus Act (WpPG) standardises the rules for prospectuses that are published for the public offering of securities (previously sales prospectuses) and prospectuses in connection with admission to the regulated market (so-called organized market) in accordance with European requirements.
It came into force on July 1, 2005 and implements the prospectus directive in Germany. According to § 21 WpPG, BaFin is the competent administrative authority.
The long-term issuer privilege that existed for banks when issuing bearer bonds according to the law of the time only continues in this form until the end of 2008. Thereafter, only issues of a maximum of 50 million euros per year will benefit from the prospectus exception.
literature
- Holzborn (Hrsg.), WpPG - Securities Prospectus Act with EU Prospectus Ordinance and additional provisions, Commentary, 2nd edition, Berlin 2014, Erich Schmidt Verlag, ISBN 978-3-503-15476-0
- Just / Voss / Ritz / Zeising, WpPG. Commentary , 1st edition, Munich 2009, Verlag CH Beck, ISBN 978-3-406-56565-6
