While BaFin staff was buying and selling Wirecard shares, BaFin was investigating the company based on media reports about suspected accounting manipulation at its unit in Singapore and an anonymous complaint it received in early 2019. BaFin, as a financial supervisor, also directly oversees Wirecard Bank, which is part of Wirecard.
“It certainly does not help to build market confidence when the staff of the market regulator and bank supervisor is allowed to trade on a company which is under investigation, owns a bank and does payment services,” said Jérôme Legras, head of research at Axiom Alternative Investments.
‘Enforcement 40’ for 2020
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