Strukturelle - Veränderungen
Der deutsche Markt für strukturierte Produkte wird sich durch die neuen Reformen verändern, die die Abschaffung der Steuerbefreiung für Zertifikate ohne Kapitalgarantie vorsehen. Sie könnten zur Folge haben, dass Anleger auf kurzfristigere Produkte mit Kapitalgarantie umschwenken. Von Wietske Blees
Bald tritt in Deutschland eine Regulierung in Kraft, die sich erheblich auf Zertifikate auswirken und zu einer Reorganisation des deutschen Markts für strukturierte Produkte führen dürfte. Das Gesetz zur Vereinfachung der Steuerregelungen für Anlageprodukte führt ab Januar 2009 eine Pauschalsteuer ein, wodurch Zertifikate ohne Kapitalgarantie - der bevorzugte Wrapper am deutschen Markt für strukturierte Produkte - ihren steuerbefreiten Status verlieren.
Für Zertifikate, die seit dem 14. März
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