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Wirecard class action raises regulator immunity questions

Wirecard class action raises regulator immunity questions
Published on: 28 August 2020
Published by: Law360
  • Wirecard class action raises regulator immunity questions
  • Wirecard’s collapse—the activities of BaFin and the FCA
  • The BaFin and EU response
  • Investor action against BaFin
  • FCA immunity in comparison
  • What does the BaFin class action mean for the FCA?

Article summary

Law360, Expert analysis: The German Federal Financial Supervisory Authority, or BaFin, is being sued for abuse of authority following one of the biggest fraud scandals of the decade, with German payment processor Wirecard AG filing for insolvency owing €3.5bn (approximately $US 4.14bn) and its chief executive arrested on suspicion of accounting fraud and market manipulation. or take a trial to read the full analysis.

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