On obstacles faced by private individuals when selling shares in Germany 

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.