Wirecard: Public prosecutor searches five objects

Wirecard headquarters In addition to the company’s headquarters in Aschheim, the public prosecutor’s office searches two properties in Munich and Austria. (Photo: Reuters) Düsseldorf The public prosecutor came to the insolvent payment service provider Wirecard on Wednesday. Since morning she has been searching a total of five objects: three in Munich, including the company headquarters […]

How Bafin boss Felix Hufeld justifies himself

Berlin, Frankfurt Felix Hufeld was more important for the finance politicians this Wednesday afternoon than the Chancellor. The hearing of the Bafin chief in the finance committee should actually end by 1 p.m. at the latest, since then Angela Merkel (CDU) commented on the German EU Council Presidency in plenary. However, from the point of […]

Adcada Group faces million-dollar fine for mask bond

Berlin, Dusseldorf When Ilyushin Il-76 lands at Rostock-Laage Airport, Benjamin Kühn is already waiting on the tarmac. An advertising film shows the 23-year-old boss of the Adcada group in sneakers and orange safety vest, while forklifts unload man-sized boxes in the background. Kühn climbs into the cockpit and thanks the pilot. Then he says that […]

Hedge fund TCI files criminal charges against Wirecard managers

Wirecard There is a larger bet against the payment service provider’s share. (Photo: Reuters) Frankfurt The TCI hedge fund takes legal action against Wirecard. The British financial investor, who is wagering on a fall in the price of Wirecard shares, has filed a criminal complaint against managers of the payment processor with the Munich public […]

Volks- und Raiffeisenbanken rebuild their IT

Volksbanks The central IT service provider of the Volks- und Raiffeisenbanken, Fiducia GAD, wants to cooperate more with fintechs and other IT companies. (Photo: dpa) Frankfurt In the middle of the corona crisis, the Volks- und Raiffeisenbanken are working on the realignment of their IT. One component: Your central IT service provider Fiducia GAD wants […]

Banking sector can survive crisis with some injuries

Federal Financial Supervisory Authority The Bafin held its annual press conference 2020 on Tuesday. (Photo: dpa) Frankfurt The BaFin financial regulator sees German banks as relatively resilient in the corona crisis. “The banking sector has what it takes to weather the crisis – albeit with some injuries,” said BaFin boss Felix Hufeld on Tuesday. But […]

Justice wants to end criminal proceedings against Wirecard critics

Wirecard headquarters The Wirecard headquarters in Aschheim near Munich. (Photo: dpa) Munich In the criminal proceedings to manipulate the Wirecard shares, the judiciary wants to let another investor go against a monetary requirement. The Munich district court, with the approval of the public prosecutor and defense, plans to close the case against the British short […]

Bafin checks the special report of the payment service provider

Frankfurt Wirecard’s handling of KPMG’s special audit is becoming the focus of German financial supervision. According to Bafin, the payment service provider’s report flows into the “market manipulation investigation, which is still ongoing”. “Of course, we also look at Wirecard’s communication immediately before the KPMG report is published,” said a spokeswoman when asked by Handelsblatt. […]

Overseers are demanding stricter rules for clearing houses

The City of London financial center skyline At the London financial center, the clearing house LCH.Clearnet has grown significantly in importance in recent years. (Photo: picture alliance / Daniel Kalker) London, New York International financial regulators believe that the clearing houses that are important for the financial industry should be regulated more strictly. The Financial […]

Consumer advocates and the banking industry are promoting uniform supervision

Bafin In the future, the financial supervision should monitor the approximately 38,000 financial asset brokers. (Photo: Reuters) Berlin Bank associations and consumer advocates tend to have different opinions on regulatory issues. Now they have decided to take an unusual step: In a joint letter to parliamentarians from the government factions, the central association of the […]