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 […]

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 […]

FBI investigates US Senator Burr for insider trading

United States US Senator Richard Burr resigns as head of the Intelligence Committee after a suspicious sale of shares due to police investigations against him. (Photo: AFP) Washington The influential US Senator Richard Burr resigns as head of the Secret Service Committee due to police investigations into him after suspicious share sales. Republican majority leader […]

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. […]

Deka demands resignation of Wirecard boss Markus Braun

Frankfurt Deka is the first major German fund company to replace Wirecard boss Markus Braun. “We are calling for Markus Braun’s resignation,” said Ingo Speich, Head of Sustainability and Corporate Governance at Deka, the “WirtschaftsWoche”. “We communicated this to Wirecard’s Chairman of the Supervisory Board, Thomas Eichelmann, earlier this week,” added Speich. As a fund […]

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 […]

Top managers are picky about stocks

“The insiders live out their countercyclical character,” says Olaf Stotz, professor at the Frankfurt School of Finance & Management. That means: The executives who know their companies better than anyone else go bargain hunting if they consider the shares of their own companies on the stock exchange to be undervalued. According to Stotz, this is […]

Uniper’s supervisory board chairman Reutersberg resigns

Bernhard Reutersberg The Chairman of the Supervisory Board submits his position at Uniper. (Photo: dpa) Dusseldorf After the takeover by the competitor Fortum, Uniper’s supervisory board chairman Bernhard Reutersberg relinquished his post, according to an insider. Other members of the control panel also wanted to withdraw, a person familiar with the matter told Reuters on […]