Germany’s finance minister promises to overhaul financial regulation | The Economist

Germany's finance minister promises to overhaul financial regulation

In the wake of Wirecard's collapse, BaFin will be beefed up

WHEN MATTHEW EARL first called the whistleblower hotline of BaFin, Germany's financial regulator, to report suspicious business practices at Wirecard, the person who picked up the phone said he could not understand English well enough. The London-based short-seller, who co-wrote a report in 2016 alleging fraud at the payment-processing company and bet on a fall in its share price, rang again.

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