Posts – Sound Knowledge for Sound Decisions

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.

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.

The 17th sanctions package targets, among others, the Russian 'shadow fleet'. It includes ships/vessels that transport crude oil or petroleum products that originate in Russia or are exported from Russia while practicing irregular and high-risk shipping practices as set out in the International Maritime Organisation. Legal remedies for a removal from the sanctions list (delisting) are available. Contact a German/European attorney/lawyer.

BGH rules on frozen securities: A German depository bank unlawfully restricted an Iranian bank's ownership rights.

Since 5 February 2025, the REMIT regulations (registration, insider trading, etc.) have also applied to wholesale hydrogen energy products.

REMIT II integrated spot and derivative contracts for storage of electricity and natural gas into the concept of wholesale energy products.

Non-EU/EEA trading venues currently need a special BaFin licence for direct market access in Germany – but this requirement is set to be abolished under the Standortförderungsgesetz.

German branches benefit from reliefs concerning prudential consolidation, capital requirements, leverage, and liquity and funding.

The German Federal Supreme Court affirmed the liability of an intermediary due to false information on the German deposit guarantee fund.