The Eight Most Important Recommendations for Modification of the SE Regulation

The Societas Europaea (SE) has developed unexpected popularity in Germany (cf., the empirical study in Eidenmüller, Engert and Hornuf, Die Aktiengesellschaft 2008, 721 et seq.). Since the incorporation of Allianz SE, more publicly listed enterprises have taken this legal form (e.g., BASF SE, Fresenius SE, Porsche SE). The SE has become attractive to mid-sized companies in Germany as well. Legal advisers and legal scholars in Germany consequently have had a breadth of experience with this new supranational company type. This experience forms the basis of the following recommendations to further improve the legal framework and increase the attractiveness of the SE for large and mid-sized companies in Germany and Europe.