Wirecard: Politicians and officials blame each other

Whe hastily conceded his own weaknesses, quickly lost in the political game of Black Peter. Felix Hufeld, President of the BaFin Financial Supervisory Authority, now knows that too. The violent criticism of his authority in connection with the Wirecard scandal surprised him very unpleasantly, he is said to have said in a hearing before the […]

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 […]

Financial supervision Bafin takes a close look at Wirecard

Dhe German financial regulator Bafin takes a closer look at the payment service provider Wirecard. A number of exams have taken place, said Bafin boss Felix Hufeld at the annual press conference on Tuesday. Bafin is currently looking at KPMG’s special audit report to check whether its results contradict Wirecard’s earlier statements. According to Bafin […]

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 […]

A woman’s shadow lies over SAP – Morning Briefing

Good morning dear readers, if Germany can show something with pride in the battle of the big digital corporations, it is SAP from Walldorf, the invention of five ex-IBM forces 48 years ago. So it borders on self-harm that after only six months co-CEO Jennifer Morgan already logged out again. So forget all the great […]

The special examination is nearing completion

Munich / Frankfurt Wirecard is a year of extremes. Since January 2019, the business newspaper “Financial Times” (FT) has published a whole series of articles about opaque contracts and dubious partners of the group. Above all, the inconsistencies in the important Asian business raised bad suspicions: Has Wirecard manipulated its balance sheet? After the pressure […]

Bafin boss Hufeld on the corona crisis: It will be painful

Felix Hufeld is President of Bafin Financial Supervision. Image: Bloomberg How to continue in the Corona crisis? Financial Supervisory President Hufeld on the suffering of the banks, prohibited dividends and the security of money. Mr. Hufeld, how dangerous is the corona crisis for Germany’s banks? Dennis Kremer Editor in the “Money & More” section of […]

Companies can support suppliers with guarantees

Felix Hufeld The Bafin President explains how companies can support each other. (Photo: dpa) Berlin This clarification should help many companies: They are allowed to support suppliers with guarantees or sureties. Bafin President Felix Hufeld said this in a letter to the FDP parliamentary director, Florian Toncar. The letter is available to the Handelsblatt. Hufeld’s […]