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Join the Securities Litigation and Enforcement Group on LinkedInNo Safety Net From Crypto Collapses, German Regulator Warns
Investing in cryptocurrencies could mean you lose all your money because there’s no state-sponsored protection, Germany’s financial regulator BaFin said Monday, in a toughening of previous warnings to retail investors. *** If trading platforms or wallet providers turn south or go bust, “there is no protection covering customer losses, such as deposit guarantee schemes or […]
DeFi ‘Casino’ May Need New Global Regulator, German Central Banker Says
“To me, DeFi seems more like a casino for tech-savvy speculators,” Wuermeling, a member of the German central bank’s executive board responsible for bank supervision and IT, said in a speech on Thursday. DeFi “is growing quickly and so might its ties to the rest of finance and the economy…we need to be discussing regulatory […]
Wirecard: 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