Database on German and European Economic Law

 Directive 2013/50/EU

I. Description

Article 33 of the  Transparency Directive (Directive 2004/109/EC) requested the European Commission to report on the operation of this Directive. The report published by the Commission in accordance with this Article shows that the transparency requirements of the Directive are considered to be useful for the proper and efficient functioning of the market by a majority of stakeholders. However, despite these achievements, the review of the operation of the  Transparency Directive showed that there are areas where the regime it created could be improved. It is thus desirable to provide for the simplification of certain issuers' obligations with a view to make regulated markets more attractive for small and medium-sized issuers raising capital in Europe. Additionally, the legal clarity and effectiveness of the existing transparency regime needs to be increased, notably with respect to the disclosure of corporate ownership. This proposal for an amendment of the  Transparency Directive is consistent with the objective of maintaining and, where necessary, enhancing the level of investor protection envisaged in the Directive and ensuring that the information disclosed is sufficient and useful for investment purposes at acceptable cost.

II. General Information

Title

Directive 2013/50/EU of the European Parliament and of the Council of 22 October 2013 amending Directive 2004/109/EC of the European Parliament and of the Council on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market, Directive 2003/71/EC of the European Parliament and of the Council on the prospectus to be published when securities are offered to the public or admitted to trading and Commission Directive 2007/14/EC laying down detailed rules for the implementation of certain provisions of Directive 2004/109/EC

Status
Existing
Directive
2013/50/EU
Source
O.J. EU No L (Legislation), Edition 294, Year 2013, p.13
Adoption
10/22/2013
Promulgation
11/06/2013
Character
Regular Act
Legal Basis
Art. 50, 114 AEUV
Legislative Procedure
Codecision procedure

III. Versions and Legislative History

1. Versions

Titel
Allg. Daten
Textfassung

Original Text :
Directive 2013/50/EU of the European Parliament and of the Council of 22 October 2013 amending Directive 2004/109/EC of the European Parliament and of the Council on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market, Directive 2003/71/EC of the European Parliament and of the Council on the prospectus to be published when securities are offered to the public or admitted to trading and Commission Directive 2007/14/EC laying down detailed rules for the implementation of certain provisions of Directive 2004/109/EC

  2013/50/EU

Beschluss:
10/22/2013 (A)
Verkuendung:
11/06/2013 (P)
(A) Adoption | (P) Promulgation

2. Legislative History

Datum
Typ / Titel
Textfassungen
07/19/2012
Opinion of the Committee of the regions
O.J. 2012/C 277/171
02/22/2012
Opinion of the European Economic and Social Committee
O.J. 2012/C 143/78
02/10/2012
Opinion of the European Central Bank
O.J. EU 2012/C 93/02
10/25/2011
Proposal
COM(2011) 683 final

3. Comments

Datum
Stellungnahme
Textfassungen
12/06/2011
Bundesverband der Deutschen Industrie (BDI)
Comment on: Kommissionsvorschlag
12/02/2011
Die Deutsche Kreditwirtschaft (DK)
Comment on: Kommissionsvorschlag
06/2012
Der Deutsche Anwaltverein (DAV)
Comment on: Kommissionsvorschlag

4. Legal Impact

Auswirkungstyp
Richtlinie
Textfassungen
Amendment
  Directive 2007/14/EC
Amendment
  Directive 2004/109/EC
Amendment
  Directive 2003/71/EC

IV. Umsetzung in den Mitgliedstaaten

1. Implementation in Germany

11/02/2015 (A)

11/05/2015 (P)

(A) Adoption | (P) Promulgation

Legend

Legislative Act Status

Documents

This page is available in other languages.

Admin Navigation

Diese Seite durchsuchen

Overview

I. Description
II. General Information
III. Versions and Legislative History
1. Versions
2. Legislative History
3. Comments
4. Legal Impact
IV. Umsetzung in den Mitgliedstaaten
1. Implementation in Germany