The regulation of the capital market has been in crisis since the
start of the new millennium. A series of cases of fraud and company
insolvencies on a scale never before experienced in Europe and
overseas has resulted in the loss of billions and shattered the
trust of investors in the capital market. This work examines the
legal structures of the primary market and analyses possible
methods of the further development of the German Investor
Protection Act based on the example of the underwriting bank or
rather the underwriting syndicate, which consists of several banks.
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