# Insider reporting obligation (directors’ dealings)

- Canonical URL: https://www.gerhardmerk.de/insider-reporting-obligation-directors-dealings
- Post ID: 587951
- Modified: 2023-07-25T21:02:25+00:00
- Language: en

## Definition

Since 2002, members of the executive and supervisory boards of listed companies in Germany have been required to report without delay any dealings in securities of their own company with a value of 5,000 euros or more in a calendar year. This obligation also applies to spouses, registered partners, first-degree relatives - children, parents - and legal entities that are under the determining influence of the respective persons. The legal basis is § 15a and § 15b WpHG. - See Supervisory Board member, trading period, permitted, insider, nominee, expert knowledge, special advantage, blocking period. - Cf. BaFin Annual Report 2002, p. 164 ff., BaFin Annual Report 2003, p. 192 ff, BaFin Annual Report 2004, p. 173 f. (new regulations due to the Investor Protection Improvement Act), BaFin Annual Report 2006, p. 177 f. (criminal proceedings; BaFin database of published transactions), BaFin Annual Report 2009, p. 181 ff. (BaFin investigations; serious cases of insider trading), BaFin Annual Report 2013, p. 167 (significant increase in positive insider analyses), and the respective BaFin Annual Report, chapter "Supervision of Securities Trading and Investment Business." Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec. Professor Dr. Eckehard Krah, Dipl.rer.pol. E-mail address: info@ekrah.com https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk https://www.jung-stilling-gesellschaft.de/merk/ https://www.gerhardmerk.de/

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