On obstacles faced by private individuals when selling shares in Germany 

Max-dieter Forstmann
Petition is directed to
Petitionsausschuss des Europäischen Parlaments
12 Supporters 12 in Europäische Union
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  1. Launched February 2020
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Dies ist eine Online-Petition of the European Parliament.


The petitioner states that, together with his direct relatives, he is the holder of a securities account with DKB Bank, a savings bank. He now has to sell shares, and his bank is asking him to acquire a so-called Legal Entity Identifier (LEI), which costs EUR 107 a year and is required, under European financial regulations, for private individuals holding a securities account. Without this, selling online would not be possible. The petitioner claims that such an LEI is disproportionately expensive for private individuals who only occasionally undertake sales and is therefore unlawful.

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