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Europe Daily Bulletin No. 12515

27 June 2020
Contents Publication in full By article 13 / 40
ECONOMY - FINANCE - BUSINESS / Finance
European Commission asks ESMA for a preliminary investigation into ‘Wirecard’ scandal
Brussels, 26/06/2020 (Agence Europe)

The European Commission announced on Friday 26 June that it has asked the European Securities and Markets Authority (ESMA) to carry out a preliminary investigation into the adequacy of supervision by the German financial watchdog, BaFin, in connection with the accounting scandal involving the German payment service provider Wirecard (see EUROPE B12512A15).

The company, which filed for bankruptcy on Thursday, admitted that a sum of €1.9 billion, which was entered on the company’s...

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