Investor protection through model case procedures – implementing collective goals and individual rights under the 2012 Amendment of the German Capital Markets Model Case Act (KapMuG)
- The German Capital Markets Model Case Act (KapMuG) and its amendment of 2012 highlight some fundamentals of collective redress in civil law countries at the example of model case procedures in the field of investor protection. That is why a survey of the ongoing activities of the European Union in the area of collective redress and of its repercussions on the member state level forms a suitable basis for the following analysis of the 2012 amendment of the KapMuG. It clearly brings into focus a shift from sector-specific regulation with an emphasis on the cross-border aspect of protecting consumers towards a “coherent approach” strengthening the enforcement of EU law. As a result, regulatory policy and collective redress are two sides of the same coin today. With respect to the KapMuG such a development brings about some tension between its aim to aggregate small individual claims as efficiently as possible and the dominant role of individual procedural rights in German civil procedure. This conflict can be illustrated by some specific rules of the KapMuG: its scope of application, the three-tier procedure of a model case procedure, the newly introduced notification of claims and the new opt-out settlement under the amended §§ 17-19.
| Author: | Brigitte Haar |
|---|---|
| URN: | urn:nbn:de:hebis:30:3-316697 |
| Parent Title (German): | Arbeitspapier / Fachbereich Rechtswissenschaft, Goethe-Universität Frankfurt am Main = Research paper / Faculty of Law, Goethe-Universität Frankfurt am Main, Nr. 2013,9 |
| Series (Serial Number): | Arbeitspapiere / Fachbereich Rechtswissenschaft, Goethe-Universität = Research paper / Faculty of Law, Goethe University (2013, 9) |
| Publisher: | Goethe-Univ., Fachbereich Rechtswiss. |
| Place of publication: | Frankfurt am Main |
| Document Type: | Working Paper |
| Language: | English |
| Date of Publication (online): | 2013/11/04 |
| Date of first Publication: | 2013/11/04 |
| Publishing Institution: | Universitätsbibliothek Johann Christian Senckenberg |
| Release Date: | 2013/09/23 |
| Tag: | German Capital Markets Model Case Act (KapMuG); collective litigation; collective redress; investor protection; model case procedure |
| Page Number: | 29 |
| Last Page: | 28 |
| Note: | Forthcoming in: European Business Organization Law Review (EBOR) This article is a revised and expanded version of a paper on “Implementing liability on the basis of model case procedures – the example of the German Capital Markets Model Case Act (“KapMuG”)” presented at the International legal symposium in the honour of the 50th anniversary of The Marianne and Marcus Wallenberg Foundation at the Stockholm Center for Commercial Law on August 30, 2013 and to be published in the SCCL publication series. |
| HeBIS-PPN: | 348580975 |
| Institutes: | Rechtswissenschaft / Rechtswissenschaft |
| Wissenschaftliche Zentren und koordinierte Programme / House of Finance (HoF) | |
| Dewey Decimal Classification: | 3 Sozialwissenschaften / 34 Recht / 340 Recht |
| Sammlungen: | Universitätspublikationen |
| Licence (German): |  Deutsches Urheberrecht |
