Finanzplatz Deutschland: Modernisation and regulatory reform

Professor Norbert Walter (Deutsche Bank Research, Guiollette Strasse. 48. Frankfurt am Main, D60325, Germany)

Journal of Financial Regulation and Compliance

ISSN: 1358-1988

Publication date: 1 April 1998


The modernisation of the German capital market, Finanzplatz Deutschland, is under way. In the course of the 1990s, efficient organisational structures of stock and futures exchanges have been established and various equity market segments introduced. The evolution of financial markets in Germany is encouraging, even though large gaps, such as corporate bonds and mid‐caps, remain. The regulatory framework has been adjusted too. Banking, insurance and securities trading are now fully covered by prudential control and supervision. The mutual fund industry has also been put on a more liberal footing, yet the legal basis for pension funds still needs to be set up. Some centralisation and streamlining of supervisory institutions along British lines may well become appropriate, once the impact of European Monetary Union (EMU) is felt more clearly.


Walter, N. (1998), "Finanzplatz Deutschland: Modernisation and regulatory reform", Journal of Financial Regulation and Compliance, Vol. 6 No. 4, pp. 351-356.

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Copyright © 1998, MCB UP Limited

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