Beteiligungstransparenz bei Instrumenten mit vergleichbarer wirtschaftlicher Wirkung

In the context of notification requirements for shareholdings under capital markets law, this dissertation focuses on notification requirements for positions in financial instruments. It treats these issues in three steps. On the one hand, it draws a legal comparison to US securities law and analyses the economic motives behind the notification requirements for shareholdings. In addition, this work systematizes the legislative intentions and compares them with the economic findings. In the main section, the author builds on this by examining the scope of notification requirements for instruments with a comparable economic effect pursuant to Section 38 (1) sentence 1 no. 2 WpHG and Art. 13 (1) lit. b) Transparency Directive.