Wirecard collapse puts German regulator BaFin under ESMA scrutiny
The European Securities and Market Authority (ESMA) will launch an assessment of German regulator BaFIN and the Financial Reporting Enforcement Panel (FREP), following Wirecard collapse.
Wirecard's German HQ/
Credit: Wirecard
The EU securities regulator’s assessment, to be completed by 30 October, would focus on the supervisory response in the area of financial reporting by BaFin and FREP to the events leading to the Wirecard debacle.