Forex Weekly Look Back: Robinhood to restore GameStop trading, Brokeree integrates Liquidity Bridge with Ausprime LeapRate

January 29, 2021 BY Steffy Bogdanova

Forex Weekly Look Back: Robinhood to restore GameStop trading, Brokeree integrates Liquidity Bridge with Ausprime

Germany’s Federal Financial Supervisory Authority (BaFin) filed criminal complaint on Thusrday against one of its employees for suspected insider trading in payments company Wirecard. BaFin said that the employee of the securities supervision department sold structured products based on Wirecard on 17 June 2020. The date is one day before Wirecard’s auditor EY found that 1.9…

BaFin employee suspected of Wirecard insider-trading

January 28, 2021 BY Steffy Bogdanova

BaFin suspects employee of Wirecard insider-trading

Fabio De Masi, one of the German lawmakers driving a parliamentary inquiry into the affair, commented: “The finance ministry saw no need to take action on insider trading at the supervisory authorities at the outset of the Wirecard scandal. There is still a need to apply stricter EU rules on insider trading to German authorities.…

August 31, 2020 BY Steffy Bogdanova

Wirecard Card Solutions to sell assets to Railsbank and wind-down business in the UK

Nigel Verdon, CEO and co-founder of, Railsbank, added: We are delighted to have come to this agreement with Wirecard Card Solutions and thank its team for working positively with us during the process. At the end of the day, customer and team needs are our priority. The Railsbank team will conscientiously work on ensuring customers,…

August 13, 2020 BY Steffy Bogdanova

Former Wirecard COO Jan Marsalek on the run, added to Interpol’s most wanted list

Three other former executives of Wirecard have been arrested including former chief executive officer Markus Braun. The prosecutors suspect that the company has known about the losses since 2015. The Braun, Marsalek and the two other executives allegedly conspired to about €3.2 billion euros ($3.7 billion) in fraudulent loans. Allegedly, they intended to inflate the…

August 07, 2020 BY Steffy Bogdanova

Singaporean exec charged over Wirecard scandal

Since the Wirecard scandal blew up six weeks ago, CEO Markus Braun and other executives have been arrested. The company’s second in command and believed to be the mastermind behind the scandal Jan Marsalek, however, is still missing. He was thought to be hiding in the Philippines until recently but was discovered that immigration data…

July 16, 2020 BY Steffy Bogdanova

German financial reporting system faces ESMA assessment after Wirecard collapse

The review found that some procedures in place in both FREP and BaFin could use some improvement, as well as the selection and examination of issuers. The review also identified independence and conflict of interests in FREP and cooperation issues between the two authorities. ESMA invited BaFin and the European Commission to investigate whether the…

July 03, 2020 BY Steffy Bogdanova

Forex Weekly Look Back: FXSpotStream reports third highest ADV month ever, BDSwiss secures FSA Seychelles license

The UK Financial Conduct Authority suspended Wirecard’s UK subsidiary and left thousands of people in the UK unable to access their money. The UK regulator froze Wirecard Card Solutions’ UK lincense to protect the company's clients following the German-based parent company Wirecard AG filing for insolvency on Thursday last week after accounting firm Ernst & Young…

June 30, 2020 BY Steffy Bogdanova

BaFin takes over in Wirecard balance sheet scandal

The President of the Bavarian Finance Center, Wolfgang Gerke spoke about the failure of the supervisory authorities and said the scandal has done damage that will have “impact for years”. He also said he suspects a corrupt network stands behind the scandal. Following the scandal in Germany, the UK Financial Conduct Authority suspended Wirecard’s UK…

FCA freezes Wirecard UK subsidiary, card holders cannot access their money

June 29, 2020 BY Steffy Bogdanova

Wirecard scandal leaves UK card holders without access to their money

The Anna app warned its customers that they had less than an hour to withdraw their money before all accounts of the app were frozen. Users of other fintechs received no warning. Consequently, millions of digital banking customers, including business owners have been affected and are unable to access their money. Anna and Pockit seem…

May 12, 2020 BY Steffy Bogdanova

Wirecard and Varengold Bank provide payment solutions to FinTech firms

The cooperation will provide for Varengold Bank’s customers Wirecard’s banking-as-a-service expertise, spanning digital banking, prepaid card issuing, acquiring and loan fronting services. Wirecard’s customers will, in turn, benefit from Varengold Bank’s capabilities in creating tailor-made financing solutions. Leonard Coen, Head of Sales Financial Institutions & FinTech Europe at Wirecard commented: At its core, this collaboration…

Tag: Wirecard