What the Wirecard scandal reveals about the state of German financial supervision
Voss, D.
(19 November 2020)
What the Wirecard scandal reveals about the state of German financial supervision.
LSE European Politics and Policy (EUROPP) blog.
(19 November 2020)
What the Wirecard scandal reveals about the state of German financial supervision.
LSE European Politics and Policy (EUROPP) blog.
The Wirecard scandal has evolved into the largest case of accounting fraud in German post-war history. Dustin Voss examines the role of BaFin, the Federal Financial Supervisory Authority. He argues that with Germany’s transition from a bank-based to a capital-market based financial system, regulators failed to beef up BaFin’s powers to meet the challenges of 21st century internationalised finance.