On 22 February 2019, BaFin issued a notice saying that it has updated its FAQ on transparency requirements relating to major holdings of voting rights.(available in the German language).

In particular, following a judgement of the German Federal Supreme Court (BGH) published in November 2018, BaFin has changed its administrative practice with respect to acting in concert. In the relevant section, BaFin’s handbook „Emittentenleitfaden“(available (so far only in the German language)  now contains a reference to the updated FAQ-list, but please note that this reference will not appear in a print-out of the handbook.

An English version is expected in the coming weeks.