Exclusive: German finance minister says regulators did not work effectively on Wirecard

📆 23/06/2020 12:45:00
📰 ChannelNewsAsia

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German Finance Minister Olaf Scholz said it appeared that regulators did not work effectively in regards to payments provider Wirecard, whose ...

German Finance Minister Olaf Scholz said it appeared that regulators did not work effectively in regards to payments provider Wirecard, whose chief executive has been arrested on suspicion of falsifying company revenues.

FILE PHOTO: German Finance Minister Olaf Scholz attends a news conference, amid the coronavirus disease outbreak, in Berlin, Germany, June 17, 2020. REUTERS/Annegret Hilse/PoolShare this contentBERLIN: German Finance Minister Olaf Scholz said it appeared that regulators did not work effectively in regards to payments provider Wirecard, whose chief executive has been arrested on suspicion of falsifying company revenues.

The case"raises critical questions about supervision of the company, in particular with regards to accounting and balance sheet control," Scholz told Reuters.Source: Reuters

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Exclusive: German finance minister points to regulatory failures in Wirecard scandalBERLIN: German Finance Minister Olaf Scholz said lawmakers need to quickly determine how to tighten regulation in the wake of an accounting ...
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