Insights

Legal analysis of short-selling bans in the European Union under Regulation (EU) No 236/2012, examining the powers of national authorities, market stability considerations and the impact on liquidity and price discovery in EU capital markets.

Legal expert reports (expert opinions) on EU and German investment funds law—UCITS, AIFMD, KAGB, delegated regulations and BaFin standards—for litigation, arbitration and regulatory procedures worldwide.

Legal expert reports (expert opinions) on EU and German financial sanctions and AML/CTF—built on deep financial markets law expertise, for litigation, arbitration and regulatory matters worldwide.

Legal expert opinions on German banking law, capital markets law and stock exchange law for international litigation and arbitration worldwide.

Germany will transpose AIFMD II by 16 April 2026. Learn how the Fondsrisikobegrenzungsgesetz changes loan origination for registered German AIFMs (KVG light/sAIFM), what restrictions fall away, and how to structure a German debt fund for professional investors.

Market making under the AIFMD examined: legal limits for AIFMs, MiFID II interaction, quoting obligations, supervisory classification and the pending CJEU case on internally managed AIFs.

German AIFM light regime explained: how to structure a sub-threshold AIFM in Germany, including registration, eligible assets, investor categories, marketing rules and ongoing regulatory obligations.

Overview of the EU’s 19th Russia sanctions package (23 Oct 2025): Russian LNG ban from 25 Apr 2026 (with 1 Jan 2027 long-term contract carve-out), expanded goods annexes, shadow fleet list, transaction bans (banks, crypto providers, ports/locks), SPFS/SBP/Mir connection ban, special zones restrictions and broader services bans, plus Belarus alignment and Regulation 269/2014 listing updates.

The German law firm Kronsteyn drafts and reviews the MiCAR white paper for your utility token offering, submits it to BaFin on your behalf, and provides legal support throughout the entire duration of the public offering. Legal advice provided by a qualified German lawyer.

MiCAR requires crypto-asset issuers to submit a whitepaper to BaFin before any public offering. From 23 December 2025, new format requirements (XHTML/XBRL) apply. The German law firm Kronsteyn drafts and reviews whitepapers. Attorney/Lawyer.

EMIR 3 requires certain Market Participants to maintain an active EU CCP account. Overview of obligations, thresholds, reporting and implementation.

Key Changes for SIs: From a revised SI definition to the removal of pre-trade transparency for non-equity instruments and adjustments to the quoting obligation.

Learn how EMIR 3.0 and the MiFIR review are changing the rules for Post-Trade Risk Reduction Services (PTRR). An overview of new requirements, exemptions, and opportunities for market participants.

EMIR 3 introduces new rules for intra-group derivative transactions: changes to clearing exemptions, reporting obligations and risk mitigation. Overview and legal assessment. KRONSTEYN Germany.

German Real Estate Transfer Tax (GrESt): latest case law on when internal fund/SPV reorganisations stay tax-neutral where ultimate ownership is unchanged.

Overview of the requirements for a German banking licence under the KWG: procedures before BaFin and the ECB, distinction from WpIG/ZAG/MiCAR and key strategic considerations for foreign institutions.

Legal requirements for German hedge funds: establishment, structuring, BaFin authorisation and ongoing management.

In-depth practical overview of EU transaction bans with state-linked entities (Annex XIX) and listed Russian ports/airports (Annex XLVII): scope, indirect transactions, key derogations and compliance steps.

Since 20 January 2025, 105 additional oil tankers of the so-called 'shadow fleet' have been listed under Regulation (EU) 2025/1494. Listed vessels are banned from EU ports and maritime services. Shipowners may challenge the listing before the General Court of the EU if the legal criteria under Article 3s(2) of Regulation (EU) No 833/2014 are not met. The deadline for filing an action is 13 October 2025.

When a sanctioned person brings an action before the General Court of the EU challenging a listing decision by the Council, a specific time limit must be observed. Legal advice from a qualified law firm is essential in delisting procedures.