Functions and composition of the Advisory Council
The Advisory Council assists BaFin in monitoring corporate takeovers. It advises BaFin on issues related to takeover law, e.g. when it comes to issuing regulations for the supervisory activities of BaFin.
The Advisory Council comprises fifteen members: four representatives of the issuers, two representatives each chosen by institutional and private investors, three representatives of the investment services enterprises, two employee representatives, and two representatives from academia. The members of the Advisory Council are appointed by the Federal Ministry of Finance (Bundesministerium der Finanzen) for five years each.
The President of BaFin convenes and presides over the meetings of the Advisory Council. He/she may also designate a BaFin member of staff to perform these duties.