Comments
8th of August 2025

Implementation of the amended Distance Selling Directive (EU 2023/2673)

Of 22 November 2023 into German law

German Banking Industry Committee Legal affairs
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Lothar Wand

The German Banking Industry Committee (DK) has issued a statement on the draft bill (RefE) of the Federal Ministry of Justice and Consumer Protection (BMJV) for a ‘Law Amending Consumer Contract and Insurance Law’ dated 9 July 2025. In view of the underlying EU legal framework of the amended Distance Selling Directive (EU 2023/2673), the draft bill presented by the BMJV requires numerous substantive amendments. EU law must be transposed into German law on a one-to-one basis. There is no reason for a transposition that goes beyond the directive (‘gold-plating’).

GBIC comments on the draft bill of the Federal Ministry of Justice and Consumer Protection (German only)

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16th of March 2026

GBIC comments on amending Delegated Regulation (EU) 2019/98

The German Banking Industry Committee (GBIC) welcomes the objective of revising Commission Delegated Regulation (EU) 2019/980 to simplify prospectus requirements, streamline their content and further standardise format and structure, thereby reducing administrative burdens for issuers, improving comparability for investors and strengthening access to EU capital markets.