Anlassbezogene Sekundärmarktpublizität und soziale Netzwerke in Deutschland und den USA

Social networks are becoming increasingly important and are also used for capital market communication by listed companies. Here, too, the change of the information society becomes apparent - capital market law, however, lags behind this development. The paper examines the permissibility of using social networks for secondary market publicity and takes a critical look at the previous assessment of the criterion "non public" in the context of insider information. In addition, the significantly more liberal legal framework in the USA is considered. The result is a plea for a more open attitude of capital market supervision to allow the use of social networks.