‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInWirecard: Bafin Faces Criminal Probe Over Wirecard Supervision, Trading – Bloomberg
The scandal over the collapse of Wirecard AG expanded as German financial regulator BaFin faces a criminal probe into how it oversaw the payment processor and whether some of the agency’s staff illegally traded the stock. Frankfurt prosecutors said Monday they opened the probe after reviewing information collected from BaFin in February when they visited […]
German regulator reports Wirecard insider trading in own ranks | Reuters
Germany’s financial watchdog has reported one of its employees to state prosecutors on suspicion of insider trading linked to Wirecard, shortly before the payment firm’s spectacular collapse. Source: German regulator reports Wirecard insider trading in own ranks | Reuters
Head of German financial watchdog resists calls to resign over Wirecard | Financial Times
The head of Germany’s financial watchdog has rejected calls to resign over the scandal at Wirecard, while saying that with hindsight he should have called for prosecutors to open an investigation sooner. Felix Hufeld said at a conference on Wednesday that he would not resign “as long as my country and Europe have trust in […]
German parliament to open full inquiry into Wirecard collapse | Financial Times
The German parliament is to hold a full inquiry into the collapse of Wirecard amid mounting questions as to why the government failed to prevent the biggest corporate fraud in the country’s postwar history. The decision ensures that the Wirecard affair will dominate German politics in the lead-up to next year’s Bundestag elections and could […]
German Market Watchdog Let Staff Trade in Wirecard Shares – WSJ
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 […]
German’s watchdog widens probe of possible Wirecard insider trading | News | 1450 99.7 WHTC
Germany’s financial watchdog is widening its examination into possible insider trading of Wirecard shares to include any individuals who have sat on the company’s management and supervisory boards in 2020, a BaFin spokeswoman said on Wednesday. via German’s watchdog widens probe of possible Wirecard insider trading | News | 1450 99.7 WHTC.
Germany watchdog investigating Volkswagen shares in run-up to CEO change: Reuters
The German financial markets watchdog is investigating trading in Volkswagen shares before the announcement of a new chief executive, a German magazine reported on Tuesday. via Germany watchdog investigating Volkswagen shares in run-up to CEO change: Reuters
German watchdog pursues charges in Hugo Boss insider trading probe — Reuters
German financial watchdog Bafin said it was pressing insider trading charges relating to a drop last year in the price of Hugo Boss (BOSSn.DE) shares, confirming a Der Spiegel report. via German watchdog pursues charges in Hugo Boss insider trading probe — Reuters
Deutsche Boerse chief investigated for alleged insider trading — Irish Times
German police and prosecutors investigating possible insider trading by the head of Deutsche Boerse have searched the office and apartment of the man who is leading a planned merger with the London Stock Exchange. State prosecutors in Frankfurt said the investigation centred on whether secret merger talks with the London Stock Exchange were under way […]
CalSTRS to join class-action lawsuit against Volkswagen – Pensions & Investments
CalSTRS will join a proposed German securities lawsuit against Volkswagen AG over the automaker’s admission that it deliberately installed software that misrepresented air quality and emissions levels on millions of vehicles it had labeled clean diesel, spokesman Ricardo Duran said in an interview. via CalSTRS to join class-action lawsuit against Volkswagen – Pensions & Investments