The Wirecard accounting scandal also calls on the European Securities and Markets Authority (ESMA). He will ask for an investigation whether the German financial regulator BaFin has failed to control the payment service provider and has violated EU law, said Commission Vice Valdis Dombrovskis. It has to be clarified what went wrong.
The German finance minister Olaf Scholz announced that he would examine the structures at the BaFin financial supervision in order to find possible errors. Chancellor Angela Merkel described the accounting scandal as worrying. The goal now must be to avert damage from the financial center and to remedy weaknesses.
The protection community of investors yesterday filed criminal charges against two EY examiners. EY previously checked the Wirecard balance sheets. The payment service provider led by Vienna’s former CEO Markus Braun has, as reported, declared bankruptcy.
