English Translation of the Updated German Draft for an Electronic Securities Regulation now available

The German Federal Government has now published a draft of an Electronic Securities Act (Gesetz über elektronische Wertpapiere). This draft is based on the initial proposal released in August 2020 by the German Federal Ministry of Justice and Consumer Protection and the German Federal Ministry of Finance. The draft law provides a legal framework for electronic securities and, in particular, the opening of German law to innovative technologies such as distributed ledger technologies (DLT), in order to modernise German securities law.

Please find our internally produced translations and reading versions below:

• An English translation of the draft law. This translation not only includes the draft provisions but also the legislative reasoning behind them.
• A comparison version against our previous English translation of the initial proposal.
• A German language reading version which links each section with the relevant reasoning behind it.