Under fire: A pedestrian passes BaFin headquarters in Frankfurt. Lawmakers set the scene for their questioning of the head of financial market regulator and the Bundesbank’s top banking watchdog by calling out failures of a wide range of authorities. — Bloomberg
BERLIN: Germany’s financial watchdogs are front and centre on the second day of a parliamentary hearing into the spectacular collapse of Wirecard AG as their inability to uncover the country’s biggest corporate fraud in living memory makes a deeper investigation more likely.
Lawmakers in Berlin set the scene for their questioning of the head of financial market regulator BaFin and the Bundesbank’s top banking watchdog by calling out failures of a wide range of authorities in the country. Meanwhile, a key opposition party signalled it may provide the support needed to start a full parliamentary probe as Germany gears up for elections next year.
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