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EU watchdog urges tighter rules to prevent another Wirecard scandal

After the collapse of German payments firm Wirecard, the bloc’s securities watchdog said we need to update our European Union rules on company financial information. “ESMA considers that the Wirecard case has shown, once again, that timely and effective enforcement of financial information is paramount to ensure investor protection and confidence in capital markets,” said ESMA Chair Steven Maijoor. The watchdog hinted at the need for tough U.S.-style rules that require directors of a company to personally attest to the financial information made public.

Source: Reuters

Link – https://www.reuters.com/article/us-eu-accounts-regulator/eu-watchdog-urges-tighter-rules-to-prevent-another-wirecard-scandal-idUSKBN2AV276

 

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