For the first half of 2020: Bafin employee negotiated and reinforced with Wirecard-shares

Employees of the financial Supervisory authority Bafin acted in the months prior to the Wirecard Broke reinforced with documents of the payment provider. In the

For the first half of 2020: Bafin employee negotiated and reinforced with Wirecard-shares

Employees of the financial Supervisory authority Bafin acted in the months prior to the Wirecard Broke reinforced with documents of the payment provider. In the first half of 2020 2.4 percent of all reported private financial transactions by Bafin employees, accounted for transactions with Wirecard-shares or equity derivatives, such as from Reuters on Thursday present the answers of the Federal Ministry of Finance, to a question catalogue of the Green shows. In the total year 2018, the proportion was therefore only 1.2 percent in 2019, at 1.7 percent. Finance Minister Olaf Scholz (SPD) and the subordinate financial authority, Bafin, due to the Wirecard scandal in the criticism.

The increase in trade with Wirecard papers have explained the Bafin with the higher fluctuations of the share price by the reports in the media, and the Ad-hoc announcements of the company, it said in the answer of the German Federal Ministry of Finance. The reinforced Wirecard transactions in shares of the Bafin employees were, compared to other Dax-where the volatility increased, "this is not unusual or striking."

No information on short sales

The data of the Ministry of Finance suggested that in 2019, and in the first half of the year 2020 about 20 percent of the Bafin Employees of private financial transactions. They had all been through the supervisor approved. This had been confirmed, that the private financial transactions no knowledge of insider information.

In the first half of the year 2020 in relation to the transactions in equity derivatives of the company is 58 per cent and 42 per cent, realisations were acquisitions. The extent to which Bafin employees have bet by short-selling on price losses, let him not be ascertained. No information would be available.

Updated Date: 13 August 2020, 13:19

You need to login to comment.

Please register or login.

RELATED NEWS