---𝐈𝐧𝐬𝐢𝐝𝐞𝐫𝐤ä𝐮𝐟𝐞---
Where is insider buying taking place and to what extent? Especially in difficult market situations, such information could be quite helpful. Insiders often know more than the small private investor. Interpreted correctly, one can also draw conclusions for one's own investments. Since these data are reportable, they can be tracked quite simply. The following link gives you a good overview (in the overview for USA and Germany evaluable):
https://www.insiderkauf.de/overview?market=US&time=7D
Börse.de is a bit more specific about the purchases:
https://www.boerse.de/insider-trades/
Legal cornerstones are provided by the Securities Trading Act and the Market Abuse Regulation.
𝘈𝘶𝘴𝘴𝘤𝘩𝘯𝘪𝘵𝘵 𝘥𝘦𝘳 𝘨𝘦𝘴𝘦𝘵𝘻𝘭𝘪𝘤𝘩𝘦𝘯 𝘎𝘳𝘶𝘯𝘥𝘭𝘢𝘨𝘦𝘯:
I. Market Abuse Regulation:
-->reporting of proprietary trading by senior executives
"Pursuant to Art. 19 MAR, executives must notify the issuer and the competent authority of any proprietary transaction in shares or debt instruments of that issuer or related derivatives or other related financial instruments without undue delay and no later than three business days after the date of the transaction." [1]
II. Securities Trading Act (WpHG):
-->Regulates securities trading in Germany.
"Pursuant to Section 39 (1) WpHG, the notification requirement under Section 33 (1) and (2) WpHG applies mutatis mutandis to holders of voting rights (Sections 33, 34 WpHG) and instruments (Section 38 WpHG) if the aggregate of the holdings subject to consideration under Sections 33, 34 and 38 WpHG reaches, exceeds or falls below the thresholds specified in Section 33 (1) sentence 1, with the exception of the 3 percent threshold. Section 39 WpHG is thus a pure aggregation reporting requirement." [2]
"As with Section 38 WpHG, Section 39 WpHG is also based on a hypothetical threshold contact. The notification obligation under Section 39 WpHG exists if the sum of voting rights (Section 33 WpHG) and voting rights shares from instruments hypothetically reaches, exceeds or falls below the thresholds of 5, 10, 15, 20, 25, 30, 50 or 75 percent. According to the administrative practice of the Federal Financial Supervisory Authority, reporting thresholds that are fallen below and exceeded again within one day generally only trigger a notification obligation pursuant to Section 39 WpHG if the holdings at the end of a day show a relevant threshold contact (intraday accumulation or netting of threshold contacts)." [2]
